IndiGo operator InterGlobe Aviation on Friday released its fiscal second quarter results report with a loss during the period of Rs 986.70 crore compared to a profit of Rs 188.90 crore recorded during the corresponding quarter of FY24. The loss incurred in the quarter was due to rising fuel costs and a record number of groundings, which have now started to decline, the company said. It recorded an operating revenue of Rs 16,969.60 crore, up 13.6 per cent from Rs 14,943.90 crore in the same period of the previous fiscal. The company posted an EBITDAR of Rs 2,434 crore.

Total revenue for the quarter ended September 2024 was Rs 17,759.00 crore, up 14.6% from the same period last year. Total expenses for the quarter stood at Rs 18,666.10 crore, up 21.9% year-on-year.

For the quarter, IndigoPassenger ticket revenue of Rs stood at Rs 14,359.20 crore, registering an increase of 9.9 percent and ancillary revenue was at Rs 1,875.00 crore, up 20.9 percent over at the same time last year.

Indigo had a total cash balance of Rs 39,341.90 crore, comprising Rs 24,359.70 crore of available cash and Rs 14,982.20 crore of restricted cash. The capitalized liability under the operating lease was Rs 47779.40 crore. Total debt (including capitalized operating lease liability) was Rs 59,236.90 crore.

Pieter Elbers, CEO, said: “During a traditionally weaker second quarter, results were further affected by headwinds from groundings and fuel costs. We have reached a milestone as the number of grounded planes and associated costs have started to decline. We continue to capitalize on the growth of the Indian market and the associated opportunities, while remaining a cost leader in this competitive market. This is a proud moment for us as we launch our business class in two weeks and deliver a new experience to our customers. We are receiving a positive response to our recently launched loyalty rewards program – IndiGo BluChip. I would like to express my gratitude to our 6E family for their continued efforts in building IndiGo. Indiaand courteously served 28 million customers during the quarter. »

Network and fleet

As of September 30, 2024, IndiGo had a fleet of 410 aircraft including 41 A320 CEOs (17 wet leases and 4 secondary leases), 201 A320 NEOs, 112 A321 NEOs, 45 ATRs, 3 A321 freighters, 6 B737s (wet leases) and 2 B777s. . (wet lease); a net increase of 28 passenger aircraft during the quarter.

IndiGo operated at a peak of 2,161 per day flights during the quarter, including non-scheduled flights. Additionally, it provided scheduled services to 88 domestic and 31 international destinations.

The company’s board of directors also approved investment up to Rs 295 crore in IndiGo Ventures Fund – I (a diagram of InterGlobe Aviation Ventures (Category – II, Alternative Investment Fund – AIF Trust). The program will primarily invest in the equity of start-ups at the pre-Series A, Series A and Series B stages. The priority sectors will be the aviation and allied sectors, it said.