For the quarter, passenger ticket revenues were Rs 5285.20 crore, an increase of 17.2% and ancillary revenues were Rs 716.70 crore, an increase of 12.8% compared to the same period last year. Total expenses for the quarter ended September 2018 were Rs 7502.30 crore, an increase of 58.2% over the same quarter last year. CASK excluding fuel was Rs 2.18, an increase of 13.5% over the same quarter last year. CASK excluding fuel was majorly impacted by the adverse movement in foreign exchange in the quarter. Excluding the impact of currency depreciation, our CASK excluding fuel increased by 2.3% over the same period last year.

Commenting on the quarter performance, Mr. Rahul Bhatia, Company's co-founder and interim CEO, said, "Aviation in India is facing significant pressures from high fuel costs, rupee depreciation and intense competition, all of which have impacted our profitability this quarter. Despite this difficult environment, IndiGo remains well positioned thanks to our low cost structure and strong balace sheet. Along our journey to build the leading nationwide air transport network, we added 20 aircraft this quarter, entered an additional 5 cities and started 35 new routes. We now fly over 100 daily departures from each of the six metros. I would like to thank all the IndiGo team, who work relentlessly to create a world class airline for our customers."

Network and Fleet

As of 30^th September 2018:

• Fleet of 189 aircraft including 127 A320ceos, 50 A320neos and 12 ATRs; a net increase of 20 aircraft during the quarter
• Operated a peak of 1,294 daily flights including international operations during the quarter
• Serviced to 57 destinations including 9 international cities; added 4 domestic and 1 international destination during the quarter

• For the period July-September 2018, the Company had a Technical Dispatch Reliability of 99.87%, on-time performance of 86.8% at four key metros and flight cancellation rate of 0.95%

Quarterly Performance

The total income from operation inclined 17% to Rs 6,185.31 crore for the second quarter ended September 2018. For the quarter, passenger ticket revenues were Rs 5285.20 crore, an increase of 17.2% and ancillary revenues were Rs 716.70 crore, an increase of 12.8% compared to the same period last year.

Total expenses for the quarter ended September 2018 were Rs 7502.30 crore, an increase of 58.2% over the same quarter last year. CASK excluding fuel was Rs 2.18, an increase of 13.5% over the same quarter last year. CASK excluding fuel was majorly impacted by the adverse movement in foreign exchange in the quarter. Excluding the impact of currency depreciation, our CASK excluding fuel increased by 2.3% over the same period last year.

OPM turned to -16.2% from 14% corresponding previous quarter. As percentage to sales and net of stock adjustments, aircraft fuel expenses increased to 49.3% from 31.3%, while Aircraft & engine lease rentals cost rose 260 bps to 18.1%. Thus, drop in OPM led Operating Loss (OL) of Rs 1004.97 crore from Operating profit (OP) of Rs 738.15 crore corresponding previous quarter.

Other income gained 53% to Rs 328.89 crore, thus, registered LBDIT of Rs 676.08 crore as against PBDIT of Rs 952.73 corresponding previous quarter. With 52% jump in interest cost to Rs 130.02 crore and 77% rise in depreciation cost to Rs 181.97 crore, the Loss Before Tax (LBT), as a result, was Rs 988.08 croroe as compared PBT of Rs 764.54 crore corresponding previous quarter. The tax credit for the quarter was Rs 335.95 crore. Thus, the company booked net losses of Rs 652.13 crore as compared to net profit of Rs 551.56 crore in corresponding previous quarter.

Half yearly performance

The total income from operation inclined 15% to Rs 12,697.29 crore for the six month ended September 2018. OPM turned to -8% from 16.6% corresponding previous period. The turnaround of operating margin to negative led Operating Loss (OL) of Rs 1016.04 crore from Operating profit (OP) of Rs 1835.17 crore corresponding previous period.

Other income inclined 52% to Rs 635.25 crore. With 47% rise in interest cost to Rs 238.71 crore and 68% jump in depreciation cost to Rs 337.24 crore, the Loss Before Tax (LBT), as a result, was Rs 956.73 croroe as compared PBT of Rs 1888.87 crore corresponding previous period. The tax credit for the period was Rs 332.40 crore. Thus, the company booked net losses of Rs 624.34 crore as compared to net profit of Rs 1362.70 crore in corresponding previous quarter.

Annual Financial Performance

For the financial year ended March 2018 (FY 2018), the total income from operation inclined 24% to Rs 23,020.89 crore. Operating margin (OPM) has increased by 130 bps to 12.8%, thus, gain in OPM leads to incline in Operating Profit (OP) by 38% to Rs 2,956.51 crore. Other income inclined 20% to Rs 946.86 crore, thus, the PBDIT gained 33% at Rs 3,903.37 crore. With 3% jump in interest cost to Rs 339.82 crore but 4% drop in depreciation cost to Rs 436.88 crore, the Profit Before Tax (PBT), as a result, grew 46% to Rs 3,126.68 crore. The tax outgo gained 82% to Rs 884.30 crore. Effective tax rate grew 570 bps to 28.3%. Thus, net profit jumped 35% to Rs 2,242.37 crore.

• As of 30th September 2018, IndiGo had a total cash balance of Rs 13163.70 crore comprising of Rs 4417.50 crore of free cash and Rs 8746.20 crore of restricted cash.

• The total debt as on 30th September 2018 was Rs 2641.10 crore. The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt.

• Third quarter fiscal 2019 year over year capacity increase in ASKs is expected to be 35%

• Full year fiscal 2019 year over year capacity increase in ASKs is expected to be 30%

• IndiGo was awarded the "Best Airline on On-Time Performance" at the third edition of ICONIC awards

• IndiGo was also awarded the "Best Domestic Budget Airline" at the Zee Business Travel Awards, 2018

The scrip hovers around Rs 817.10 (24 October 2018) on the BSE.