InterGlobe Aviation Ltd., the parent company of IndiGo, declared a loss in the September 2024 quarter, which caused its shares to drop by 13% during Monday’s market session. For the first time in two years, the company’s bottom line was reported negatively, which caused a stock market panic. With a deficit of Rs 987 crore for the second quarter that concluded in September 2024, InterGlobe Aviation went into the red. Though it is greater than what the street anticipated, the loss was inevitable. But in the reporting quarter, the aviation giant’s operating revenue increased 14% year over year (YoY) to Rs 16,970 crore.
In the second quarter of the current fiscal year, EBITDA decreased slightly to Rs 2,434 crore, while margins shrank by 210 basis points to 14.3%. Ancillary income increased 21% YoY to Rs 1,875 crore, while the budget carrier’s passenger ticket revenues increased 10% to Rs 14,359 crore during the reporting quarter.
IndiGo Q2 Results
The airline InterGlobe Aviation (IndiGo) reported a consolidated net loss of ₹986.7 crore for the fiscal second quarter that ended in September (Q2FY25) on Friday. This is in contrast to the net profit of ₹188.9 crore for the same period last year. In Q1FY25, the previous year’s quarter, it was ₹2,728.8 crore.
The business stated in a filing to the market that a record number of groundings and higher fuel costs were the main causes of the net loss for the quarter that ended in September, but those have since started to decline. The low-cost airline operator’s operating revenue increased 13.6% year over year (YoY) to ₹16,969.6 crore in Q2FY25 from ₹14,943.9 crore in Q2FY24. plummeted more than 13% in a row from ₹19,570.7, nevertheless.
IndiGo share price
Over the past year, InterGlobe Aviation’s share price has increased by about 80%. On November 1 of last year, the stock fell to a 52-week low of ₹2,415; on September 12 of this year, it reached a 52-week high of ₹5,033.20. Following a 1% drop in the previous month, the stock is down 16% in October on a monthly basis. Nevertheless, the stock has increased each month from February and August of this year.
