Indigo’s net loss widens to 1147 crore in Q4 on resurgence of second wave of pandemic

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Biznextindia : Budget airlines Indigo’s net loss widened to Rs. 1147 crore for the quarter ended March 31st 2021 against a net loss of Rs. 870 crore in the corresponding quarter last fiscal. The company’s revenue from operations dipped by 25 per cent to Rs. 6222 crore. Basic earnings per share was negative at INR 29.8 during the quarter.

“This has been a very difficult year with our revenues slumping hard due to covid, showing some signs of recovery during the period December to February and then slumping again with the second wave of the covid. While we have seen a sharp decline in revenues in March through May, we are encouraged by the modest revenue improvements starting last week of May and continuing through June” said Mr. Ronojoy Dutta CEO of Inter globe Aviation, the holding company of Indigo.

“We see this pandemic as a period of great trial for both our shareholders and our employees. We are focusing all our efforts and all our energies to strengthen the foundations and the pillars of IndiGo so that we emerge from this trial significantly stronger structurally and even more customer responsive than ever before. While we have produced disappointing financial results this year, we have also positioned ourselves to be the best-in-class airline when the inevitable recovery finally arrives” he added.

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