Low-cost carrier IndiGo reported a net loss of Rs 1583.33 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.
During the quarter, the capacity increased by 75.0% and the passenger numbers increased by 75.9% to 19.7 million.
The company’s CEO Pieter Elbers said: “This is the second consecutive quarter wherein we have operated at higher than pre-covid capacity. In spite of a seasonally weak quarter, we witnessed relatively good yields with strong demand across the network. However, fuel prices and exchange rates have adversely impacted our financial performance. We are on a steady path to recovery, benefiting from enormous opportunity both in domestic and international markets. With an industry challenged by global supply chain disruptions, we are working on various counter measures to accommodate this strong demand. We have an unparalleled network presence enabling air travel to 74 domestic and 26 International destinations, we will continue to accelerate and build on this.”
As of 30th September 2022, fleet of 279 aircraft including 26 A320 CEOs, 149 A320 NEOs, 68 A321 NEOs, 35 ATRs and 1 A321 freighter; a net decrease of 3 passenger aircraft during the quarter.
IndiGo operated at a peak of 1,630 daily flights during the quarter including non-scheduled flights. During the quarter, provided scheduled services to 74 domestic destinations and 22 international destinations.
