IndiGo Q1 results: Net loss narrows to Rs 1,064 cr; records highest-ever quarterly revenue

India's largest domestic carrier Interglobe Aviation Limited (IndiGo) on Wednesday posted narrowing of net loss to Rs 1,064 crore for the quarter ended 30 June, 2022. The firm's net loss was due to headwinds caused by depreciating rupee and higher fuel prices. 

The airline had posted a loss of Rs 3,174 crore in the year-ago period.

However, revenue from operations increased 328 per cent YoY to Rs 12,855 crore, resulting in the the highest-ever quarterly revenue. It had reported a revenue of Rs 3,006.90 crore in the same quarter last fiscal.

IndiGo saw an increase in number of passengers by 221.9 per cent compared to the same period last year. 

Further, the airline's total income came at Rs 13,018.80 crore for the quarter, highest ever.

Fuel prices rose 95.5 per cent YoY, it said, adding that its EBITDAR came at Rs 716.90 crore with EBITDAR margin of 5.6 per cent. This is against a negative EBITDAR of Rs 1360.20 crore with a negative EBITDAR margin of 45.2 per cent.

Commenting on the results, CEO Ronojoy Dutta said, "Our revenue performance this quarter was impressive. We reported the highest ever revenue generated by the company and thereby produced profits at an operational level. However, cost pressures on fuel and foreign exchange prevented us from translating this strong revenue performance into net profitability. While our financial performance in the second quarter will be challenged by weak seasonality, the long-term revenue trend remains strong.

Shares of IndiGo on Wednesday closed 1.20 per cent higher at Rs 1,967 apiece on BSE on anticipation of results.