Interglobe Aviation, the parent firm of low-cost carrier IndiGo, on November 4 reported a net loss of Rs 1,583.33 crore in the second quarter of fiscal year 2022-23.
The net loss in Q2 FY23 has increased as against Q2 FY22, when it stood at Rs 1,435.65 crore, and has significantly widened as compared to the first quarter of the current fiscal, when it came in at Rs 1,064.26 crore.
IndiGo's revenue from operations in the September 2022 quarter climbed to Rs 12,497.58 crore, which is 122 percent higher as compared to Rs 5,608.49 crore clocked in the year-ago period.
The company recorded an EBITDAR of Rs 229.2 crore, with a margin of 1.8 percent, as against an EBITDAR of Rs 340.8 crore (6.1 percent margin) in the corresponding quarter of the last fiscal.
Also Read | IndiGo earnings hinge on fare cap removal, forex fluctuations, and oil prices
IndiGo, in a press release, noted that the airline's capacity has increased by 75 percent. The passenger numbers jumped by 75.9 percent on-year to 19.7 million, it added.
"Yield improved by 21 percent to Rs 5.07 and load factor improved by 8 points to 79.2 percent," the company said.
IndiGo chief executive officer Pieter Elbers said the airline's international operations have sequentially "risen by 20 percent".
"Pricing discipline in domestic market in India helped revenues in Q2 which is a seasonal weak quarter," Elbers added.
The carrier's chief financial officer Gaurav Negi said they expect a 25 percent on-year rise in passenger load in Q3 FY23.
Depreciation of rupee and high ATF prices are, however, a "major headwind for IndiGo's growth going forward", Elbers noted.
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