Business News | IndiGo Q4 Net Loss Widens to Rs 1681.8 Cr

New Delhi [India], May 25 (ANI): InterGlobe Aviation, the operator of India's largest airline IndiGo, on Wednesday reported a net loss of Rs 1681.8 crore for the quarter ended March 2022 as compared to Rs 1141.98 crore recorded in the corresponding quarter of last year.

For the year ended March 2022, which was impacted first by 'Delta' wave and then by 'Omicron' wave, IndiGo reported a net loss of Rs 6,161.8 crore. Excluding foreign currency loss of Rs 940.8 crore, the net loss for the year aggregated to Rs 5,221 crore.

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"This quarter has been difficult because of the demand destruction caused by the Omicron virus in the first half. Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee," InterGlobe Aviation CEO Ronojoy Dutta said in a statement.

"We believe IndiGo is best positioned to maximise revenue in a recovering market. As we work to return the airline to profitability, we are focused on maintaining our cost leadership position and continuing to build the most efficient network in the region," he said.

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The company's total income for the quarter ended March 2022 rose to Rs 8,207.5 crore, an increase of 29.0 per cent over the same period last year.

For the January-March quarter, the company's passenger ticket revenues stood at Rs 6,884.7 crore, an increase of 38.4 per cent and ancillary revenues were Rs 1,058.3 crore, an increase of 18.8 per cent compared to the same period last year. (ANI)

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