InterGlobe Aviation Q2 Results FY2023, Net loss at Rs. 15833 million

On 4th November 2022, InterGlobe Aviation announced its quarterly results for the second quarter of FY2023.
 

Q2FY23 Performance updates:

-  Total income for the quarter ended September 2022 was Rs. 128,523 million, an increase of 121.6% over the same period last year. For the quarter, passenger ticket revenues were Rs. 111,104 million, an increase of 135.6% and ancillary revenues were Rs. 12,872 million, an increase of 57.4% compared to the same period last year.
- EBITDAR of Rs. 2,292 million (1.8% EBITDAR margin), compared to EBITDAR of Rs. 3,408 million (6.1% EBITDAR margin) 
- Loss excluding foreign exchange of Rs. 3,818 million compared to Rs. 14,699 million. 
- Net loss of Rs. 15,833 million, compared to net loss of Rs. 14,357 million

Business Highlights:

- As of 30th September 2022, 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. 
- IndiGo operated at a peak of 1,630 daily flights during the quarter including non-scheduled flights 
- During the quarter, providing scheduled services to 74 domestic destinations and 22 international destinations.
- IndiGo had a Technical Dispatch Reliability of 99.89 % 
- IndiGo had an on-time performance of 83.5% at four key metros and a flight cancellation rate of 1.05%
- Capacity increased by 75.0% 
- Passenger numbers increased by 75.9% to 19.7 million 
- Yield improved by 21.0% to Rs. 5.07 and load factor improved by 8 points to 79.2%

Commenting on the results, The Company’s CEO, Mr. Pieter Elbers 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 opportunity 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.” 

IndiGo share price dropped by 1.22%.