Friday, August 12, 2022

Indigo Reports Highest Quarterly Revenue Ever of ₹130 Billion

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Leading carrier Indigowho announced its latest financial results on Wednesday, said the first quarter of fiscal 2023 showed its strongest revenue performance, resulting in the highest quarterly revenue ever of Rs 130.2 billion.



“Headwinds caused by declining rupees and higher fuel prices resulted in a net loss of Rs 10,643 million for the quarter ended June 2022. Excluding currency loss of Rs 14,246 million, net profit for the quarter totaled Rs 3,603 million,” the airline said. .

For the quarter ended June 30, 2022 compared to the same period last year, the airline reported passenger numbers increased 221.9 percent, revenue improved 50.3 percent and load factor improved 20.9 points. . It said revenue from operations increased by 327.5 percent to Rs 128,553 million and capacity increased by 145 percent. Indigo also said it recorded a 95.5 percent increase in fuel prices over the period.

It said the profit, before exchange rate loss, was Rs 3,603 million, compared to a loss of Rs 28.069 million. Moreover, the airline witnessed a net loss of Rs 10,643 million compared to a net loss of Rs 31,742 million.

CEO Ronojoy Dutta said: “Our revenue performance this quarter was impressive. We reported the highest revenue ever generated by the company, producing profits at the operating level. However, pressure on fuel and foreign exchange costs prevented us from achieving this strong revenue performance in net profitability. While weak seasonality will test our financial performance in the second quarter, the long-term revenue trend remains strong.”

Total income for the quarter ended June 2022 was Rs 130,188 million, up 310.7 percent from the same period last year, Indigo said.

“For the quarter, our passenger ticket revenue was Rs 114,669 million, an increase of 399.1 percent and ancillary revenue was Rs 12,863 million, an increase of 92.5 percent compared to the same period last year,” it said.

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