IndiGo parent Q2 loss widens amid high ATF prices even as ticket sales jump 136%

For the quarter, IndiGo's passenger ticket revenues were Rs 11,1104 crore, an increase of 135.6 percent and ancillary revenues were Rs 1,2872 crore, an increase of 57.4 percent compared to the same period last year.

At the operating level, EBITDAR (earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs) stood at Rs 292.2 crore in the second quarter of this fiscal over Rs 340.8 crore in the corresponding period in the previous fiscal.

The EBITDAR margin stood at 1.8 percent in the reporting quarter as compared to 6.1 percent in the corresponding period in the previous fiscal.

Pieter Elbers, CEO, said this is the second consecutive quarter wherein the company has operated at higher than pre-COVID capacity. In spite of a seasonally weak quarter, it saw relatively good yields with strong demand across the network. However, fuel prices and exchange rates have adversely impacted InterGlobe Aviation's financial performance.

He said the company is on a steady path to recovery, benefiting from enormous opportunities both in domestic and international markets. With an industry challenged by global supply chain disruptions, the company is working on various countermeasures to accommodate this strong demand.

As on September 30, the airline had a total cash balance of Rs 19,660.6 crore, comprising Rs 8,244.2 crore of free cash and Rs 11,416.4 crore of restricted cash.

The results came after the close of the market hours. Shares of InterGlobe Aviation ended at Rs 1,797.45, down by Rs 5.90, or 0.33 percent on the BSE.