Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

India's largest airline with a market share of 62.5% and Asia's biggest carrier by market valuation, <keyword id="19899182" type="General" weightage="100" keywordseo="IndiGo" source="keywords" meta.keywordsubtype="org" meta.entityname="IndiGo" meta.hostid="261" meta.entityid="IndiGo">Indigo</keyword>, posted a net loss of Rs 986.7 crore for the last quarter ended September 30, 2024. Indigo's profits during this quarter in 2023 were Rs 188.9 crore. The main reason behind the carrier running into reds during the second quarter of FY25 was high <keyword id="21353061" type="General" weightage="20" keywordseo="fuel-costs" source="keywords">fuel costs</keyword>. Per the airline, its fuel costs jumped by 12.8% to Rs 6,605.2 crore, compared to Rs 5,856 crore in the year-ago period. Another expense area that witnessed an exponential surge was aircraft and engine rentals, which rose to Rs 763.6 crore in the second quarter. This stood at Rs 195.6 crore in the year-ago period. All in all, the company's total expenses burgeoned 22% to Rs 18,666.1 crore during the previous quarter. Indigo's <keyword id="20066400" type="General" weightage="20" keywordseo="revenue-from-operations" source="keywords">revenue from operations</keyword>, while down by 13.3% on a QoQ basis, from Rs 19,571 crore in June 2024 to Rs 16,970 crore as of September 2023, jumped 13.6% on a YoY basis. The company's revenue from operations during the September quarter in 2023 stood at Rs 14,944 crore. Indigo’s consolidated top line also jumped 14% YoY to Rs 16,970 crore, which included Rs 14,359 crore of <keyword id="23687772" type="General" weightage="20" keywordseo="ticketing-revenue" source="keywords">ticketing revenue</keyword> and Rs 1,875 crore earned from ancillary services. At the end of September 2024, Indigo had a fleet of 410 planes. For the last quarter, Indigo was plagued by mass groundings of its aircraft due to faulty engines manufactured by <keyword id="21405019" type="General" weightage="20" keywordseo="Pratt-and-Whitney" source="keywords">Pratt and Whitney</keyword> Group. This had forced the airline to ground around 75 planes, or about 1/5th of its fleet. However, in the earnings call today, the management noted that the worst was behind them. Indigo expects the number of non-operational planes to drop below 60 by the end of this year and further dip to 40 by March 2025. Already, the number of grounded aircraft had come down to the high 60s. IndiGo’s cost per available seat kilometer (<keyword id="23687771" type="General" weightage="20" keywordseo="CASK" source="keywords">CASK</keyword>)—a useful metric to assess an airline's operational efficiency—also inched up 12% YoY to stand at Rs 4.69. The company expects this figure to inch up to double digits by the next quarter. Indigo's stock was down by 3.23% during the day, closing the week at Rs 4,373.70.

IndiGo's bottom-line turns red for Q2, high fuel costs, and forced groundings main reason

Airline <keyword id="6354706" type="General" weightage="100" keywordseo="indigo" source="Orion">IndiGo</keyword> reported a <keyword id="6357392" type="General" weightage="20" keywordseo="loss" source="Orion">loss</keyword> of Rs 3,818 million, excluding foreign exchange loss, for the quarter ending September 2022, compared to a loss of Rs 14,699 for the same quarter last year. Including the foreign exchange loss of Rs 12,015 million, the net loss for the September 2022 quarter aggregated to Rs 15,833 million. Total income for the quarter that ended September 2022 was Rs 128,523 million, an increase of 121.6 per cent over the same period last year. For the quarter, passenger ticket revenues were Rs 111,104 million, an increase of 135.6 per cent and ancillary revenues were Rs 12,872 million, an increase of 57.4 per cent compared to the same period last year. Company CEO, <keyword id="4490438" type="General" weightage="50" keywordseo="pieter-elbers" source="Orion">Pieter Elbers</keyword> 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 opportunities both in domestic and international markets. With an industry challenged by global supply chain disruptions, we are working on various countermeasures 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," he added. Total expenses for the quarter that ended September 2022 were Rs 144,356 million, an increase of 99.5 per cent over the same quarter last year. For the quarter that ended September 30, 2022, compared to the same period last year Indigo airline's capacity increased by 75 per cent and passenger numbers increased by 75.9 per cent to 19.7 million. "Overall, IndiGo has been recovering faster than the market, having operated two quarters at full capacity. Our capacity stands at 107 per cent in <keyword id="45394" type="General" weightage="20" keywordseo="Q2" source="Orion">Q2</keyword> FY22-23 quarter, compared to Q3 FY19-20; while the industry capacity recovery is at 85 per cent as per the same comparison. This quarter the industry witnessed reduced traffic due to seasonality. While the industry witnessed a dip to 79 per cent of the passengers carried in Q2 FY22-23 quarter, compared to Q3 FY19-20, IndiGo carried 97 per cent of the passengers in Q2 FY22-23 quarter, compared to Q3 FY19-20," the airline said. As of September 30, IndiGo had a total cash balance of Rs 196,606 million comprising Rs 82,442 million of free cash and Rs 114,164 million of restricted cash. The total debt (including the capitalised operating lease liability) was Rs 409,452 million. Indigo has a 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. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/edtech-major-byjus-sacks-thousands-and-then-hires-lionel-messi/articleshow/95301630.cms">Edtech major BYJU's sacks thousands, and then hires Lionel Messi</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/samsung-logs-its-best-ever-diwali-sales-to-tune-of-14400-crore-in-sep-oct/articleshow/95302814.cms">Samsung logs its best ever Diwali sales to tune of ₹14,400 crore in Sep-Oct</a>

Indigo's Q2 net loss widens to ₹ 15,833 million, excluding forex loss

InterGlobe Aviation, parent of the country's largest airline <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">IndiGo</keyword>, on Tuesday reported a net loss of Rs 3,174 crore for the three months to June, primarily due to a sharp <keyword id="6354942" type="UNKNOWN" weightage="20" keywordseo="decline">decline</keyword> in revenues amid the second wave of the coronavirus pandemic.The airline, which had a fleet of 277 planes at the end of June 2021, incurred a net loss of Rs 2,844 crore in the year-ago period. The carrier's consolidated total income increased by 177.2 per cent to Rs 3,170 crore in the first quarter of the current fiscal, it said in a statement. The total income stood at Rs 1,143 crore in the first quarter of the previous financial year. The airline's total expenses increased by 59.2 per cent to Rs 6,344 crore in Q1 of 2021-22, compared to Rs 3,986 crore earlier. The company's CEO <keyword id="7255265" type="UNKNOWN" weightage="20" keywordseo="Ronojoy-Dutta">Ronojoy Dutta</keyword> said, "Our financial results for the first quarter were severely impacted by the second Covid wave. The number of passengers traveling declined sharply in the months of May and June." With the second wave receding, IndiGo is seeing a measured recovery in bookings for July and August, he added. "Notwithstanding the industry's present challenges, we remain firmly optimistic about IndiGo's future. Our entire focus during this pandemic has been to manage our cash balances, run a high- quality airline and to continue to build our capabilities and be prepared for the post Covid environment," he stated. The carrier had reported a net loss of Rs 1,147 crore in the last quarter of 2020-21. The airline operated a peak of 1,262 daily flights and a minimum of 318 flights during the first quarter of FY22, including non-scheduled flights, the statement said. "During the quarter, provided scheduled services to 66 domestic destinations and various international locations through passenger charters and air bubble flights," it added. <keyword id="11729733" type="UNKNOWN" weightage="20" keywordseo="see-also">SEE ALSO</keyword> <a href="https://www.businessinsider.in/business/news/byjus-last-two-acquisitions-and-a-deal-with-disney-reveal-its-american-dream/articleshow/84783749.cms">Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

IndiGo's loss widens to ₹3,174 crore as number of passengers 'declined sharply' in May and June

<ul><li>Co-promoter <keyword id="843530" type="General" weightage="80" keywordseo="rakesh-gangwal" source="Orion">Rakesh Gangwal</keyword>’s wife, <keyword id="3108991" type="General" weightage="80" keywordseo="shobha-gangwal" source="Orion">Shobha Gangwal</keyword> is the likely seller in the block deal executed on Thursday, as per media reports.</li><li>Last September, Rakesh <keyword id="924639" type="General" weightage="80" keywordseo="gangwal" source="Orion">Gangwal</keyword> was reportedly looking to sell 2.8% stake in the low cost airline for approximately $250 million.</li><li>As of December 2022, Shobha Gangwal owns 7.04% stake in the company while co-founder Rakesh Gangwal holds 13.24% stake.</li></ul>Shares of <keyword id="6354706" type="General" weightage="100" keywordseo="indigo" source="Orion">IndiGo</keyword> tumbled over 4.5% on Thursday after several large block deals were executed during the day, with 18 million shares exchanging hands. The stock closed at ₹1,897 per share. Co-promoter Rakesh Gangwal’s wife, Shobha Gangwal is known to have sold 4% of her stake in the company via block deals, according to <a href="https://www.moneycontrol.com/news/business/stocks/indigo-crashes-after-large-block-deal-shobha-gangwal-likely-seller-10093341.html">media reports</a>. As per CNBC-TV18, the floor price for the block deal was set at ₹1,875 per share and Goldman Sachs was appointed as the broker. Last September, Rakesh Gangwal <a href="https://www.livemint.com/companies/news/rakesh-gangwal-to-sell-2-8-stake-in-indigo-for-250-million-in-block-deal-11662558562338.html">was reportedly looking to</a> sell 2.8% stake in the low cost airline for approximately $250 million. As of December 2022, Shobha Gangwal held 7.04% stake in the company while the airline’s co-founder Rakesh Gangwal held 13.24% stake. The promoter group currently owns a majority 71.92% stake in the airline. <keyword id="1697775" type="General" weightage="50" keywordseo="kapil-bhatia" source="Orion">Kapil Bhatia</keyword> and <keyword id="325253" type="General" weightage="50" keywordseo="rahul-bhatia" source="Orion">Rahul Bhatia</keyword> hold 0.01% stake each while <keyword id="16015993" type="General" weightage="50" keywordseo="asha-mukherjee" source="Orion">Asha Mukherjee</keyword> held 0.32% in the airline. Rahul Bhatia is the promoter and managing director of the airline. The market capitalization of the aviation company stood at ₹73,159 crore. Shares of the company have fallen over 9% in the last one month. Earlier this month, Indigo reported its highest ever quarterly revenue of ₹15,410 crore in Q3, on the back of strong demand during the peak travel season. Net profit of the airline rose to ₹1,422 crore as compared to ₹129 crore last year. Last quarter, it had posted a net loss of ₹1,583 crore. “Third quarter performance was strong both operationally and financially in the backdrop of robust demand for air travel. The wide range of initiatives that were set in motion across the organization have started to yield results,” said <keyword id="4490438" type="General" weightage="50" keywordseo="pieter-elbers" source="Orion">Pieter Elbers</keyword>, CEO of Indigo. Total expenses for the quarter ended December 2022 were ₹13,986 crore, an increase of 49.6% over the same quarter last year. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-becomes-the-number-one-team-in-all-formats-in-icc-rankings/slidelist/97951749.cms">Indian cricket team drops to second position in tests after ICC corrects its mistake</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/fantastic-voyage-star-and-60s-sex-symbol-raquel-welch-passes-away-at-82/articleshow/97967923.cms">'Fantastic Voyage' star and '60s sex symbol Raquel Welch passes away at 82</a>

IndiGo stock slips 4.5% as 18 million shares exchange hands via block deals

<ul><li>Higher operating costs drove <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">Indigo</keyword> into the red for the second quarter as it declared a net loss of ₹1,064 crore. </li><li>The loss has widened from ₹651.5 crore it posted in the same quarter last year. </li><li>Ahead of its quarterly announcement, Indigo traded flat as it went up by 0.8% to ₹1,665, as per <keyword id="43628" type="CITY" weightage="20" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> (BSE).</li></ul>Higher operating costs drove Indigo into the red for the second quarter as its debt also swelled over seven times to ₹19,841 crore in one year. In the same period last year, its debt was at ₹2,641 crore. This is due to increased operating leases and higher maintenance costs It also declared a net loss of ₹1,064 crore. The loss has widened from ₹651.5 crore it posted in the same quarter last year. And, this is in spite of the fact that its revenue increased by 31% to ₹8,105 crore. 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/815201"></div>
]]></cdata></div>









 “In a historically weak quarter, we registered a negative profit before tax margin of 12.7% compared to 16% margin loss registered in the same quarter last year,” said CEO Ronojoy Dutta. Ahead of its quarterly announcement, Indigo traded flat as it went up by 0.8% to ₹1,665, as per Bombay Stock Exchange (BSE). The results were announced after the market was closed. The stock has been taking a beating for the last one month due to rising fuel prices and declining passenger traffic. 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/814649"></div>
]]></cdata></div>











 Indigo had a fleet of 235 aircraft and operated 1,437 daily flights during the quarter to 70 destinations including 17 international cities. 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/814731"></div>
]]></cdata></div>











 Interglobe Enterprises promoters — Rahul Bhatia and Rakesh Gangwal — hold 74.8% stake in the company.

You Searched For "IndiGo losses" and got 5 results

IndiGo's bottom-line turns red for Q2, high fuel costs, and forced groundings main reason

BI India Bureau

Indigo's Q2 net loss widens to ₹ 15,833 million, excluding forex loss

IANS

IndiGo's loss widens to ₹3,174 crore as number of passengers 'declined sharply' in May and June

PTI

IndiGo stock slips 4.5% as 18 million shares exchange hands via block deals

Bhakti Makwana

Indigo debt has swollen by seven times in one year

Prerna Sindwani

Popular Keywords

Buying Guides