IndiGo reports net loss of INR 10,620 million from July-September

IndiGo reports net loss of INR 10,620 million and EBITDAR of INR 2,564 million for the quarter ended September 2019. Mark-to-market losses on capitalised operating leases of INR 4,282 million and higher maintenance cost of INR 3,190 million significantly impacted profitability. The Company’s CEO, Ronojoy Dutta said, “In a historically weak quarter, we registered a negative profit before tax margin of 12.7% compared to 16% margin loss registered in the same quarter last year. While our revenue performance was much better during the quarter, the losses were accentuated by forex losses on operating lease liabilities created under IND AS 116, and re-assessment of accrual estimates for future maintenance cost. We remain focused on our growth plans and are expanding both domestically and internationally. We added 7 new domestic destinations and 6 new international destinations this past quarter and are looking to further grow our network profitably.”