Total expenses for the quarter ended September 2021 were Rs 7234.40 crore, an increase of 71.3% over the same quarter last year.

Aircraft fuel expense soared 207.76% YoY to Rs 1989.44 crore during the quarter as global crude oil prices soared over the past few months.

The company reported EBITDAR of Rs 340.80 crore with EBITDAR margin of 6.1% for the quarter, compared to EBITDAR of Rs 408.50 crore with EBITDAR margin of 14.9% for the same period last year.

For the quarter, passenger ticket revenues were Rs 4716.30 crore, an increase of 113.6% and ancillary revenues were Rs 817.70 crore, an increase of 61.4% compared to the same period last year.

Available seat-kilometer (ASK) rose 78.3% to Rs 1580 crore in Q2 September 2021 over Rs 890 crore in Q2 September 2020.

Revenue passenger-kilometer (RPK) jumped 94.9% to Rs 1120 crore in Q2 September 2021 over Rs 580 crore in Q2 September 2020.

Load factor rose 6.1 points to 71.1% in Q2 September 2021 from 65.1% in Q2 September 2020. Passenger load factor, or load factor, measures the capacity utilization of public transport services like airlines, passenger railways, and intercity bus services. It is generally used to assess how efficiently a transport provider fills seats and generates fare revenue.

CASK (cost per available seat-kilometre) fell 1.6% to Rs 0.45 crore in Q2 September 2021 over Rs 0.45 crore in Q2 September 2020. CASK excluding fuel stood at Rs 0.32 crore, recording a 15.7% fall over the same quarter last year.

The company said that the third quarter fiscal year 2022 capacity in terms of ASKs is expected to increase by around 40% as compared to the second quarter of fiscal year 2022 and around 45% as compared to the same quarter previous year.

The company had strong liquidity position with a total cash of Rs 16553.90 crore including free cash of Rs 6351.60 crore. The capitalized operating lease liability was Rs 27562.60 crore. The total debt (including the capitalized operating lease liability) was Rs 32335.30 crore.

The company's CEO, Ronojoy Dutta said: “We are encouraged by the pace of revenue recovery. We continue to work towards return to profitability in order to strengthen our balance sheet. With a modern fleet, dedicated employees and a stronger economic environment we are well positioned to leverage all the growth opportunities around us."

During the current quarter, domestic aviation sector witnessed improvement in passenger traffic due to relaxation of capacity restrictions in the domestic markets and travel norms, reduced number of covid cases and enhanced vaccination drive. The international sectors are also gaining momentum with opening of popular destinations and increase in frequencies.

Due to this, the Group's performance improved in terms of increased capacity deployment, improvement in yields and load factors The Group expects the passenger traffic and revenue environment to continue to improve.

The Group's balance sheet continues to remain strong with sufficient liquidity as of 30 September 2021 to meet all financial obligations.

"We remain focused to keep our unit costs lower and continue to have stringent controls on all discretionary spends The Group has assessed the recoverability of the carrying amount of assets while preparing the Group's financial results as of and for the quarter and half year ended 30 September 2021. We have performed sensitivity analysis on the assumptions used and based on current estimates, expect the carrying amount of these assets will be recovered We will continue to closely monitor, any material changes to future economic conditions impacting our financial position," the company said.

IndiGo is amongst the fastest growing low-cost carriers in the world.

As of 30 September 2021, fleet comprised 279 aircraft including 72 A320 CEOs, 130 A320 NEOs, 44 A321 NEOs and 33 ATRs; a net increase of 2 aircraft during the quarter. IndiGo operated a peak of 1,209 daily flights and a minimum of 759 flights during the quarter including non-scheduled flights. During the quarter, provided scheduled services to 69 domestic destinations and various international locations through passenger charters and air bubble flights.