On Wednesday, IndiGo airline said its net loss narrowed to Rs 1,064.3 crore for June 30, 2022. It reported a net loss of Rs 3,174.2 crore last year. The revenue from operations rose 328 per cent to Rs 12,855.3 crore from Rs 3,007 crore.

CEO Ronojoy Dutta said, “Our revenue performance this quarter was impressive. We reported the highest ever revenue generated by the company and thereby produced profits at an operational level. However, cost pressures on fuel and foreign exchange prevented us from translating this strong revenue performance into net profitability. “While our financial performance in the second quarter will be challenged by weak seasonality, the long-term revenue trend remains strong.”

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In the current quarter, IndiGo expects a jump of about 70 per cent-80 to cents in capacity in available seats per kilometre. As of June 30, 2022, the airline had a fleet of 281 aircraft, including 35 A320 CEOs, 146 A320 NEOs, 65 A321 NEOs and 35 ATRs, a net increase of six aircraft during the June quarter.

During the daily flight, IndiGo operated at the peak of 1,667, including non-scheduled flights. IndiGo said that “it had an on-time performance of 85.5 per cent at four key metros and flight cancellation rate of 0.61 per cent. The airline’s debt quarter as of June quarter-end was Rs 39,278 crore.”