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Indigo Post Q4FY20 Loss Of Rs. 870 Crore

Roshni Agarwal

Indigo, private airline on Tuesday reported a net loss of Rs 870.8 crore for the March quarter of FY20 (Q4FY20) as travel remain restricted due to Covid 19.

In the previous quarter, the company logged a profit of Rs. 496 crore and in the corresponding period a year ago there was reported a profit of Rs. 589.6 crore.

"Closure of flight operations during national lockdown on account of Covid-19 significantly impacted revenue for the quarter. IndiGo reports net loss of Rs 8,70.8 crore and EBITDAR of INR 86.7 crore for the quarter ended March 2020. With the prevailing uncertainty due to pandemic, we are not in a position to provide capacity growth guidance," the airline stand in a statement.

During the quarter, the company expanded its fleet by just 5 aircrafts to take the total to 262.

For the entire fiscal year, the loss stood at Rs. 233.7 crore.

The loss before tax, however, was at Rs 1,289.8 crore compared to profit of Rs 626.1 crore in Q4FY19.

Debt of the company jumped by a massive 835% year on year to Rs. Rs 22,719.2 crore from Rs 2,429.2 crore in Q4FY19.

Shares of Interglobe Aviation, parent company of Indigo closed at Rs. 945.55 per share on the BSE.

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