IndiGo's Q2 net loss narrows to Rs 1440 crore sequentially as recovery gathers pace

Asia's Tech News Daily

IndiGo’s Q2 net loss narrows to Rs 1440 crore sequentially as recovery gathers pace
© Prince Mathews Thomas IndiGo’s Q2 net loss narrows to Rs 1440 crore sequentially as recovery gathers pace

India’s largest aviation company, InterGlobe Aviation Ltd, which runs the IndiGo airline reported a standalone net loss of Rs 1440 crore for the quarter ending September (Q2FY22). Even as the loss has increased year-on-year, IndiGo’s loss has more than halved on a sequential basis. In Q1FY22, the airline’s loss stood at Rs 3180 crore. The sequential improvement can be attributed to the swift recovery in the Indian domestic aviation market, following the disruptions caused owing to the second covid-19 pandemic.

Commenting on the results, IndiGo’s CEO, Ronojoy Dutta said, “We are encouraged by the pace of revenue recovery. We continue to work towards return to profitability in order to strengthen our balance sheet. With a modern fleet, dedicated employees and a stronger economic environment we are well positioned to leverage all the growth opportunities around us.”

The company’s revenues in Q2FY22 increased by nearly 87 percent versus Q1FY22 to Rs 5608 crore. Year-on-year, revenue growth stood at almost 105 percent. In Q2FY22, IndiGo’s passenger ticket revenues were Rs 4716.3 crore, representing an increase of 113.6 percent compared to last year’s same quarter. At the same time, ancillary revenues increased by 61.4 percent to Rs817.7 crore.

IndiGo saw 9.6 percent year-on-year growth in its yields, a measure of pricing for airlines.

Robust revenue growth helped the company swing to profit at the EBITDAR level in Q2FY22 from an EBITDAR loss in Q1FY22. EBITDAR is earnings before interest, tax, depreciation, amortization and lease rentals; a key measure of profitability for airlines. Year-on-year, EBITDAR has declined by 10 percent to Rs 251 crore. IndiGo’s Q2 results are better than some analysts’ expectations. For instance, Prabhudas Lilladher Pvt. Ltd had estimated revenue at Rs 5000 crore and an EBITDAR loss of Rs 7.5 crore.

At the end of September, IndiGo’s free cash and restricted cash stood at Rs 6351 crore and Rs 10202 crore, respectively. Going ahead, IndiGo has said that its capacity in terms of ASKs (available seat kilometer) for the December quarter (Q3FY22) is expected to increase by around 40 percent sequentially.

Ahead of the Q2 results announcement, the IndiGo stock closed at Rs 1997.95 per share on the National Stock Exchange, which represents a 0.61 percent decline compared to the previous day.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related


Sexual misconduct allegation leveled against fired CNN anchor Chris Cuomo

A former co-worker of Chris Cuomo made a sexual misconduct allegation against him, as he was fired Saturday for misleading the cable network about his role in trying to mitigate ... Read more »

Swimsuit showdown: Barbie Imperial vs Aj Raval

© Provided by Fans cannot help but pit Barbie Imperial and Aj Raval against each other following their recent dissension. In case you missed it, here’s the gist: November ... Read more »

Singer Sonu Nigam Buys Kia Carnival MPV - Here's All You Need to Know About the Car

© Provided by News18 Singer Sonu Nigam Buys Kia Carnival MPV – Here’s All You Need to Know About the Car Ever-popular Indian singer Sonu Nigam recently bought a brand-new ... Read more »

Gambia's President Barrow takes slim, early lead as vote-tallies continue

1 / 5Gambia’s President Barrow takes slim, early lead as vote-tallies continuePresidential election in Gambia By Pap Saine and Bate Felix BANJUL (Reuters) –Gambian President Adama Barrow had a narrow ... Read more »

Peraturan lesen arak di semua kopitiam hakis hak orang bukan Islam, kata Guan Eng

© Provided by Free Malaysia Today Kedai kopi dan restoran perlu membayar lebih RM1,000 untuk mendapatkan lesen alkohol dikeluarkan Jabatan Kastam Diraja Malaysia bagi penjualan bir. GEORGE TOWN: Setiausaha Agung ... Read more »

Matric markers ready to start as all Covid-19 protocols are in place

© Provided by Independent Online (IOL) Cape Town – Since medical science has answered many questions around Covid-19, the Education Department is confident to go ahead with the marking of ... Read more »

How to optimise your medical aid cover

© Provided by Independent Online (IOL) PLANNING PERSPECTIVES By Palesa Thloloe For many families, medical aid is one of the biggest monthly expenses. Premium inflation is on the rise, too: ... Read more »

Katrina Kaif and Vicky Kaushal's wedding mandap to be a lavish glass gazebo?

© Provided by Pinkvilla The countdown to Katrina Kaif and Vicky Kaushal’s wedding has officially begun as the festivities will kick off this week. The actor’s brother Sunny Kaushal was ... Read more »

Amid Omicron scare, India sees dip in Covid cases in a day

© Provided by The Statesman Amid Omicron scare, India sees dip in Covid cases in a day Amid the Omicron scare, India on Saturday reported 8,603 fresh Covid-19 cases in ... Read more »

Rafa Benitez must not repeat Liverpool mistake when Everton face Arsenal

Many Everton fans could spot their side’s major issue against Liverpool a mile off – even before they kicked off in Wednesday’s Merseyside derby. The team-sheet was something of a ... Read more »

‘Very difficult' Expats share the one challenge about life in world's 'best' expat country

The InterNations Expat City ranking found that Kuala Lumpur was the best expat destination in the world. Over 80 percent of expats think locals in the Malaysian city are friendly ... Read more »

Bruno Lage reveals what happened in Wolves dressing room after Liverpool defeat

Bruno Lage has explained the impact Liverpool’s dramatic late win had on the Wolverhampton Wanderers dressing room. Divock Origi scored four minutes into injury time as the Reds earned a ... Read more »

Silvio Berlusconi, 85, tipped for one final tilt at Italy's top job

© Anadolu Forza Italia President Silvio Berlusconi arrives to cast his vote for the mayoral elections in Milan, Italy on October 3, 2021 – Anadolu All political lives end in ... Read more »

Robredo sounds alarm on fake photos putting her in a bad light

© Leni Robredo FB fake news about Leni Robredo. Screenshot from Leni Robredo FB Vice President Leni Robredo on Sunday decried the manipulated photos circulating in social media in connection ... Read more »

Luxury UAE-based homeware brands that are sure to revamp your interiors

© Motivate Publishing Home and Soul If you’re looking to give your home a refresh this summer season, opt for the homeware brands which are right on your doorstep. From ... Read more »

I'm A Celeb castle 'constantly under siege' as security foil third attempted break-in

I’m A Celebrity… Get Me Out Of Here! has suffered yet another attempted break in by fans – leaving show bosses with a recurring headache. The long running ITV reality ... Read more »

Arsenal transfer round-up: Gunners ‘contact' Juventus star, while Elneny future takes surprising twist

Mikel Arteta, once again, will have to rejuvenate his Arsenal side after another humbling at the hands of a ‘Big Six’ rival. Cristiano Ronaldo’s brace and Bruno Fernandes’ smooth finish ... Read more »

Indian villagers protest as army kills 13, fearing rebels

GAUHATI, India (AP) — Angry villagers burned army vehicles in protest after more than a dozen people were killed by soldiers who mistakenly believed some of them were militants in ... Read more »

Cincinnati priest pleads guilty to raping 10-year-old alter boy 30 years ago

Geoff Drew will serve seven years in prison after pleading guilty for multiple counts of rape. Fox 19 A Catholic priest from Cincinnati pleaded guilty on Thursday to raping a ... Read more »

Michigan wallops Iowa to capture Big 10 title, clinches CFP spot

Michigan coach Jim Harbaugh and his players celebrate after their 42-3 win over Iowa in the Big Ten title game. AP INDIANAPOLIS — Hassan Haskins ran for two second-half touchdowns ... Read more »

How to watch Manchester United vs Crystal Palace in the 2021-22 Premier League from India?

© Getty Ralf Rangnick Man Utd 2 Dec 2021 Manchester United are set to host Crystal Palace in a Premier League meeting at Old Trafford on Sunday. In Michael Carrick’s ... Read more »

Sara Ali Khan's green Raw Mango brocade suit is PERFECT for a cosy look this wedding season: Yay or Nay?

Sara Ali Khan is leaving no stone unturned when it comes to promoting her upcoming film Atrangi Re starring Dhanush and Akshay Kumar. In the Anand L Rai directorial, Sara ... Read more »

How to style your basic blue jeans like a seasoned fashion influencer

© Provided by Lifestyle Asia Who says blue jeans are basic? Take inspiration from the street style looks of these fashion influencers to create dynamic denim outfits. It’s a truth ... Read more »

Back to the basics

© Provided by Mid-Day Rarely ever are we reminded that technology is a bane than a boon, especially in the hands of a toddler. Too busy sometimes, parents get Alexa ... Read more »

Didi departure from NYSE marks end of Wall Street romance with Chinese big tech

© GREG BAKER Shares in New York of Chinese retail giant Alibaba dropped after ride-hailing company Didi Chuxing said it would delist from Wall Street The Chinese ride-hailing giant Didi ... Read more »

BCCI confirms revised South Africa itinerary, govt advisory awaited

© Provided by The Times of India KOLKATA: The cloud of uncertainty over India’s forthcoming tour of South Africa following the discovery of a new Covid-19 variant was lifted when ... Read more »

SpiceJet air hostess dances to Lazy Lad at airport in viral video. Amazing, says Internet

Ever since the video of an Indigo air hostess dancing to Manike Mage Hithe on an empty flight went crazy viral online, several clips of other cabin crew members dancing ... Read more »

BREAKING: Puducherry makes vaccination compulsory in UT with immediate effect

© Provided by Zee News NEW DELHI: The Puducherry Administration on Sunday made the COVID-19 vaccination compulsory for everyone in the Union Territory with immediate effect. The UT Administration of ... Read more »

ISL: From FC Goa's 7-0 win over Mumbai to Kerala's 5-1 against Hyderabad - What are the biggest wins of each team?

© ISL Vikram Partap Singh ATK Mohun Bagan Mumbai City ISL 8 The 2021-22 edition of the Indian Super League has already witnessed quite a few high-scoring games. Odisha thumped ... Read more »

I Hope to Keep Doing Well Under Rohit Bhaiya's Captaincy: Yuzvendra Chahal

© Provided by News18 I Hope to Keep Doing Well Under Rohit Bhaiya’s Captaincy: Yuzvendra Chahal Yuzvendra Chahal has overcome the disappointment of being ignored for the 2021 ICC Men’s T20 World Cup ... Read more »

India Now Has 4 Omicron Cases: Did They Travel Abroad, Were They Jabbed? All Questions Answered

© Provided by News18 India Now Has 4 Omicron Cases: Did They Travel Abroad, Were They Jabbed? All Questions Answered A 33-year-old unvaccinated man from Maharashtra tested positive for the ... Read more »

Why Omicron is likely to affect major Indian cities, ex-CSIR scientist explains

© Provided by Hindustan Times People wait to receive a dose of the Covid-19 vaccine amid concern over the Omicron variant, in Navi Mumbai. (PTI) Omicron, the new variant of ... Read more »

LIVE Cricket Score, India vs New Zealand, 2nd Test: Ajaz sees off Mayank for 62 as Kiwis earn breakthrough

© Provided by Firstpost LIVE Cricket Score, India vs New Zealand, 2nd Test: Ajaz sees off Mayank for 62 as Kiwis earn breakthrough 10:26 (IST) After 32 overs,India 108/1 ( ... Read more »

Watch: Warriors' Steph Curry drills ridiculous pregame trick shot from the stands at Chase Center

© Provided by WarriorsWire Since the Golden State Warriors have moved to Chase Center in San Francisco, Steph Curry has been attempting different pregame trick shots to replace his legendary ... Read more »

Indian Institute of Astrophysics to recruit for junior tech asst, other posts

Indian Institute of Astrophysics, Bengaluru has invited applications to recruit for junior technical assistant, junior research assistant, mechanic, engineer trainee, and research trainee posts. The application forms are available on ... Read more »

Daily Schmankerl: The aftermath of Bayern Munich vs. Borussia Dortmund; Liverpool to make an offer for Real Madrid's Toni Kroos?; Manchester City, Bayern among teams eyeing Denis Zakaria; and MORE!

© Photo by Joosep Martinson/Getty Images Die Folgen: Bayern’s controversial 3-2 victory over Dortmund (Bavarian Football Works) It was not easy, but Bayern Munich pulled out a 3-2 win over ... Read more »

Dad of a Parkland victim blasts GOP lawmaker who shared a Christmas photo of his family smiling with guns and asking Santa to 'please bring ammo'

Rep Thomas Massie (R-KY) draws a Ruger LCP handgun from his pocket during a rally in support of the Second Amendment on January 31, 2020 in Frankfort, Kentucky.Bryan Woolston/Getty Images ... Read more »

Europe's far-Right and nationalist leaders gather in attempt to forge new alliance

Marine Le Pen and Hungarian Prime Minister Viktor Orban ahead of the ‘The Warsaw Summit’ The leaders of far-Right and nationalist parties from across Europe gathered in Warsaw on Saturday ... Read more »

Omicron Won't Ruin Your Booster

© Justin Tallis / Getty / The Atlantic If it doesn’t happen with this variant, it’ll happen with the next one, or maybe the next. Some version of this coronavirus ... Read more »

Why racing isn't solely about being the quickest guy on the track

© Provided by Top Gear Philippines I’ve been a car guy and a motorhead for as long as I can remember. But racing was never really my thing and I’ve ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic