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IndiGo Q4 Results: Loss Widens To Rs 1,682 As Fuel Costs Soar

In the December quarter, it had reported a small profit of Rs 218 crore

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Budget carrier IndiGo on Wednesday released its results for the quarter ended March 31 and reported a loss of Rs 1,681 crore.

In the December quarter, it had reported a small profit of Rs 218 crore.

Its revenue from operations came in at Rs 8,020 crore in the quarter under review, compared to Rs 6,223 crore in the same quarter last year.

However, on a sequential basis, revenue fell 14 per cent. Fuel prices increased by 61 per cent compared to the same period last year.

The company said its fuel expenses surged 68.2 per cent YoY to Rs 3,220.60 crore for the quarter from Rs 1,914.50 crore in the year-ago quarter. 

On Wednesday, IndiGo shares closed 2.08 per cent lower at Rs 1,648 apiece on NSE.

“This quarter has been difficult because of the demand destruction caused by the Omicron virus in the first half. Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee," said IndiGo CEO Ronojoy Dutta.  

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indigo quarterly results