New Delhi: In the three months ending in September, the biggest airline in the country, IndiGo, reported a net loss of Rs 986.7 crore due to the grounding of planes and increased fuel expenses impacting its profits. During the September quarter of 2023, the airline's profit was Rs 188.9 crore. IndiGo reported a loss of Rs 746.1 crore in the second quarter of the current financial year, excluding the effects of foreign exchange fluctuations, as stated in a release. In September's conclusion, the carrier possessed 410 aircraft in its fleet. The CEO of IndiGo, Pieter Elbers, stated that the airline's growth and expansion remained ongoing as the revenue increased by 14.6 per cent year-on-year to Rs 17,800 crore in the second quarter.
During a typically slower second quarter, performance was additionally affected by challenges related to aircraft groundings and fuel expenses. "We are now seeing a decrease in the number of grounded aircraft and the related expenses," he stated. The airline reported a 12.8 per cent rise in fuel expenses to Rs 6,605.2 crore during the second quarter, up from Rs 5,856 crore in the corresponding period last year. In the second quarter, the amount spent on renting aircraft and engines increased from Rs 195.6 crore to Rs 763.6 crore compared to the same period last year. Expenses in the most recent quarter increased by almost 22 percent to Rs 18,666.1 crore. During the September quarter, the airline transported 27.8 million passengers, representing an almost 6 pc increase from the previous year. In the quarter ending in September, Indigo held a 63 per cent share of the market. Yield, which is determined by the cost per kilometre and serves as a measure of ticket price, increased by 2.3 percent to 4.55 in the most recent September quarter compared to 4.44 in the previous year.
Expenses in the most recent quarter surged by almost 22 pc to Rs 18,666.1 crore. During the third quarter of September, the airlines transported 27.8 million travelers, a rise of nearly 6 percent from the previous year. In the September quarter, Indigo held a dominant 63 per cent share of the market. The yield, which is the cost per kilometre and reflects the ticket price, increased by 2.3 percent to 4.55 in the most recent September quarter compared to 4.44 in the previous year. According to the statement, in the quarter, our passenger ticket earnings reached Rs 143,592 million, marking a 9.9 per cent rise, while ancillary revenues saw a 20.9 per cent increase to Rs 18,750 million compared to the previous year.
In the December quarter, the airline anticipates a double-digit increase in ASKs (available seat kilometres) compared to the same period last year. Elbers pointed out that the airline is taking advantage of the expansion of the Indian market and its opportunities while also maintaining its position as a cost leader in the competitive market. We are proud to announce the launch of our business class in just two weeks, providing a new customer experience for our clients. He mentioned that the loyalty rewards program, IndiGo BluChip, has been well-received. According to the statement, IndiGo had a combined cash balance of Rs 393,419 million, which included Rs 243,597 million in available cash and Rs 149,822 million in restricted cash.
ALSO READ: माल्टिबेगर डिफेन्स स्टकआ 8 जौखोन्दो बांदों मानोना नैथि थाखोनि मुलाम्फाया 140 जौखोन्दो बांदों।
FIRST Business Portal addressing the potential of business capability of North East Region.
