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<ul><li>The company reported a loss worth ₹620 crore against the profit of ₹496 crore in the same period last year.</li><li>A troika of festive travel, low air turbine fuel prices, and strong rupee helped the airline narrow down its losses.</li><li>The total revenue took a massive hit at ₹5,142 crore, less than half of what it was a year earlier.</li></ul>The third quarter ended December was a lot more gentle for Interglobe Aviation which operates India's largest private airline, IndiGo, but it was still a loss. <br /><br />  <div type="image" title="Indigo" msid="80502469" hostid="261"></div><br />The company reported a loss of ₹620 crore against the profit of ₹496 crore in the same period last year. The loss may look worrisome; it is still better than what IndiGo reported in the first and second quarter — the losses in <a href="https://www.businessinsider.in/business/corporates/news/indigo-airlines-first-quarter-earnings-results-and-share-price-chart/articleshow/77240443.cms">'grounded quarter' </a>snapped profits of the last three years. <br /><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndiGo<br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 Growth (YoY)<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue<br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss <br /><br /></td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹620 crore<br /><br /></td></tr></tbody></table><br />A troika of festive travel, low air turbine fuel prices, and strong rupee helped the airline narrow down its losses. However, its total revenue took a massive hit. At ₹5,142 crore, it was half of what it was a year earlier. Capping of airfares and tighter travel restrictions due to the COVID-19 pandemic dented earnings.<br /><br />The airline's load factor at the end of Q3FY21 stood at 72%, down from around 88% in the previous year quarter.<br /><br />IndiGo's CEO Ronojoy Dutta said, "We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilization are so very critical for our return to profitability."<br /><br />The pessimism and stigma around air travel continued to hamper the aviation industry's business. Indigo airlines carried nearly 40.8% fewer passengers compared to what it carried last year.<br /><br />  <div type="image" title="domestic air traffic" msid="80502558" hostid="261"></div><br />Meanwhile, IndiGo shares have also gained over 27% since September 30. However, the stock ended flat ahead of the earnings, when the benchmark index, Sensex, plunged over 500 points. <br /><br />  <div type="image" title="Indigo (9)" msid="80502599" hostid="261"></div><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/indian-grooming-startup-bombay-shaving-company-gets-45-crore-investment-from-dettol-maker-reckitt-benckiser/articleshow/80491558.cms">Indian grooming startup Bombay Shaving Company gets ₹45 crore investment from Dettol maker Reckitt Benckiser</a></strong><b><br /> <br /> </b><a href="https://www.businessinsider.in/tech/news/apple-demolished-q1-earnings-estimates-and-set-a-new-record-with-111-billion-in-revenue/articleshow/80490065.cms"><strong>Apple demolished Q1 earnings estimates and set a new record with $111 billion in revenue</strong></a><br /><br /><br />

IndiGo narrow down its losses in Q3 — passenger capacity and airfare capping continues to hamper its business

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IndiGo narrow down its losses in Q3 — passenger capacity and airfare capping continues to hamper its business

Navdeep Yadav

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