Friday, October 29, 2021

IndiGo Net Loss Widens To ₹ 1,435 Crore In Q2, Revenue Up 104% | Outlook?


IndiGo Net Loss Widens To ₹ 1,435 Crore In September Quarter, Revenue Up 104%

InterGlobe Aviation Limited - which operates IndiGo - the country's biggest airline announced its July-September quarter results for the financial year 2021-22, reporting a net loss of  1,435.6 crore on a consolidated basis, compared to a loss of  1,194.80 crore in the corresponding quarter last year.

The company's revenue from operations in the second quarter of the current fiscal stood at ₹ 5,608 crore, compared to ₹ 2,741 crore in the same quarter last year, marking a growth of 104.6 per cent year-on-year. The airline operator said that it sees a gradual recovery in revenue to pre-pandemic levels as COVID-19 vaccination rates picked up and the government eased most air travel-related curbs.

Revenue is fast returning to normalcy and passenger load factor, or the passenger carrying capacity being used, is expected to be around 76 per cent in October, but fuel prices are worrisome, said Mr Ronojoy Dutta, Chief Executive Officer (CEO).

Stock Outlook

Stock can test 1816 in short term , but long term still satisfactory and be hold.

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