The pre-tax loss came in at Rs 623.1 crore for the quarter under review, compared with pre-tax profit of Rs 556.5 crore clocked in Q3FY20.
InterGlobe Aviation-run IndiGo airline on Thursday reported a standalone net loss of Rs 620.1 crore for the October-December quarter of FY21 (Q3FY21), as against a net profit of Rs 490.5 crore in the year-ago period. The airline, however, narrowed its loss from Rs 1,194.8 crore incurred in the September quarter of FY21.
“The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilization are so very critical for our return to profitability,” said Ronojoy Dutta, chief executive officer of the airline.
The pre-tax loss came in at Rs 623.1 crore for the quarter under review, compared with pre-tax profit of Rs 556.5 crore clocked in Q3FY20.
The bottom-line number meet Street expectation that was baking-in a net loss of over Rs 600 crore. Analysts at Centrum Broking expected IndiGo to post a net loss of Rs 620 crore, while those at Elara Capital expected the loss to be around Rs 250 crore. An outlier estimate by global brokerage HSBC had pegged the budget airline’s loss at a massive Rs 837.6 crore.
Meanwhile, the airline’s revenue came in at Rs 4,910 crore, down 50.5 per cent from Rs 9,931.7-crore revenue reported in the previous year quarter.
The earnings before interest, tax, depreciation, amortization and rent (Ebitdar) stood at Rs 987.1 crore in the quarter under study, as against Rs 1,960.7 crore in Q3FY20. Ebitdar margin of 20.1 % for the quarter
Shares of the airline company ended 0.04 per cent higher at Rs 1.590 apiece on the BSE. During the quarter under review, the price zoomed 38 per cent on the BSE as against a 25.4 per cent rise in the S&P BSE Sensex, ACE Equity data show.
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