Higher fuel prices and a record number of groundings caused InterGlobe Aviation Ltd., the parent company of IndiGo, to report a net loss of Rs 986.7 crore on Friday for the second quarter of the fiscal year 2024–25 (Q2 FY25). In the second quarter of FY24, the airline reported a profit of Rs 188.9 crore. Revenue from operations climbed 13.6% year over year (YoY) to Rs 16,969.6 crore during the reviewed quarter.
Both the carrier’s capacity and passenger traffic grew by 8.2% and 5.8%, respectively, in Q2 of FY25. IndiGo’s total cash position as of September 2024 was Rs 39,341.9 crore, which included Rs 14,982.2 crore in restricted cash and Rs 24,359.7 crore in free cash.
“Results were further impacted by headwinds related to groundings and fuel costs in a traditionally weaker second quarter,” stated Pieter Elbers, CEO of IndiGo. With the number of grounded aircraft and related expenses beginning to decline, we have turned the corner.
In comparison to the same period last year, IndiGo’s passenger ticket revenues for the quarter were Rs 14,359.2 crore, up 9.9%, and its ancillary revenues were Rs 1,875 crore, up 20.9%. The quarter ending in September 2024 saw total costs of Rs 18,666.1 crore, which represented a 21.9% YoY increase.
401 A320 CEOs (17 damp lease & 4 secondary leases), 201 A320 NEOs, 112 A321 NEOs, 45 ATRs, 3 A321 freighters, 6 B737 (damp lease), and 2 B777 (damp lease) were among the airline’s 410 aircraft as of September 2024.
Including non-scheduled flights, IndiGo’s daily flight count peaked at 2,161 during the quarter. Scheduled services were offered to 31 foreign and 88 domestic locations throughout the quarter. Today, after market hours, the quarterly results were revealed. Shares of IndiGo had closed 3% down at Rs 4,383.15, earlier in the day.
