Budget Carrier Interglobe Aviation Limited (Indigo) on June 5 announced that it registered a net loss of consolidated year-to-year RS 1,147 Crore in the fourth quarter of FY 2020-21, which ended on March 31, 2021. The airline has posted a loss of Rs 8.70, 8 crore in the period last year.

Apart from the consolidated loss, the airline’s revenue from the operation fell 25 percent to Rs 6,222 Crore in the March quarter compared to Rs 8,299 Crore in the same quarter of the previous year, the company said in the submission of regulations.

“It has been a very difficult year with our income that slumped because of Covid. After showing several signs of recovery during the December-to-February period, the income slumped again with the second wave of Covid,” said Indigo Dutta CEO.

Dutta has said that the company has seen a sharp decline in revenue in March to May, and was driven by a simple increase in income starting last week and continued until June.

“We see this pandemic as a big trial period for our shareholders and our employees. We focus all our efforts and all our energy to strengthen Indigo’s foundations and pillars so that we arise from this trial significantly structurally and even more responsive customers From before. While we have produced a disappointing financial results this year, we also position themselves to become the best airlines when unavoidable recovery finally arrived, “Dutta added.

Among other details, Indigo said that January to March EBITDAR was established at RS 648.3 Crore with a 10.4 percent EBITDAR margin compared to the EBITDAR RS 86.7 Crore with a 1.0 percent EBITDAR margin for the same period last year (2019- 20).

For the full year which ended March 2021, the company’s net loss widened to Rs 5,806.4 Crore from Rs 233.7 Crore in 2019-20 fiscal. Total revenue fell 58 percent to rs 15,677.6 crore in the last financial year. The same thing reached Rs 37,291.5 Crore in the period last year.