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Budget 2021

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IndiGo operator posts Q4 loss at Rs 870.8 crore due to coronavirus lockdown, margin shrinks

Margin fell sharply to 1 percent in Q4FY20, from 27.9 percent for the same period last year.

June 02, 2020 / 06:41 PM IST
 
 
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IndiGo airline operator InterGlobe Aviation on June 2 posted a net loss at Rs 870.8 crore for the quarter ended March 2020, partly affected by a shutdown of operations due to the coronavirus-led lockdown.

The company had a profit of Rs 595.8 crore in the same period last year.

Revenue from operations during the quarter grew 5.3 percent year-on-year (YoY) to Rs 8,299.1 crore.

"Closure of flight operations during national lockdown on account of COVID-19 significantly impacted revenue," the company said in a BSE filing.

At the operating level, earnings before interest, tax, depreciation (EDITDA) for the quarter stood at Rs 86.7 crore, declining significantly compared to Rs 2,201.9 crore in Q4FY19. Margin fell sharply to 1 percent in Q4FY20, from 27.9 percent for the same period last year.

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For the quarter, its passenger ticket revenues were Rs 7,130.9 crore, an increase of 1.3 percent and ancillary revenues were Rs 1,075.7 crore, an increase of 30.2 percent compared to the same period last year, company said.

For the full financial year 2019-20, InterGlobe posted a loss of Rs 233.7 crore against a profit of Rs 157.2 in the previous year. Revenue from Operations shot up 25.5 percent to Rs 35,756 crore.InterGlobe said it has a strong balance sheet with total cash of Rs 20,376.9 crore including free cash of Rs 8,928.1 crore at the end of March 2020.

On the future capacity growth, the company said with the prevailing uncertainty due to pandemic, it was not in a position to provide this guidance.

But CEO, Ronojoy Dutta said, "In the midst of every crisis, lies great opportunity. At IndiGo we are determined to emerge from this crisis stronger and more energized than ever. We are positioning ourselves to be a stronger brand, to have a more efficient flee/ and a lower cost structure."
Moneycontrol News
first published: Jun 2, 2020 04:45 pm

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