IndiGo’s FY21 revenue plunges, loss widens

Q4 ticket sales slump 30% to ₹4,974 cr.

Budget-carrier IndiGo posted a loss of ₹5,806 crore for the financial year 2021 compared with a loss of ₹233 crore in FY20 following a 60% drop in revenue.

For the quarter ended March, the airline incurred a loss of ₹1,147 crore.

Total income dropped 26% to ₹6,361 crore in the fourth quarter.

For the quarter, passenger-ticket revenue dropped 30% to ₹4,974 crore. Ancillary revenue decreased 17% to ₹890 crore compared with the year-earlier period.

Revenue see-saws

“This has been a very difficult year with our revenue slumping hard due to COVID-19, showing some signs of recovery during the period December to February and then slumping again with the second wave of COVID1-9,” said CEO Ronojoy Dutta.

“While we have seen a sharp decline in revenue in March through May, we are encouraged by the modest revenue improvements starting last week of May and continuing through June,” he added.

Crime Today News | Business


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