InterGlobe Aviation Limited — Earnings Release 2021

Jun 7, 2021

June 05, 2021 IGAL/SECT/06-21/02

To National Stock Exchange of India Limited Exchange Plaza, C - 1, Block G Bandra Kurla Complex Bandra - (E) Mumbai - 400 051

To Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Symbol: INDIGO

Scrip Code: 539448

Dear Sir/ Ma'am,

Sub : Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "SEBI LODR Regulations")

In compliance with Regulation 30 and other applicable regulations of the SEBI LODR Regulations, please find enclosed a copy of the Press Release on the Audited financial results for the quarter and financial year ended March 31, 2021.

This is for your information and record.

Thanking you,

For InterGlobe Aviation Limited

CIN no.: L62100DL2004PLC129768 SANJAY GUPTA Digitally signed by SANJAY GUPTA Date: 2021.06.05 18:33:05 +05'30'

Sanjay Gupta Company Secretary and Chief Compliance Officer

InterGlobe Aviation Limited Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in

Corporate Office: Level1, Tower C, Global Business Park, M G Road, Gurgaon - 122 002, Haryana, India. T +91 124 435 2500. F + 91 124 406 8536

Press Release

IndiGo reported net loss of INR 11,472 million and EBITDAR of INR 6,483 million for the quarter ended March 2021.

Gurgaon, June 05, 2021: InterGlobe Aviation Ltd. ("IndiGo") today reported its fourth quarter and fiscal year 2021 results.

For the quarter ended March 31, 2021

• Revenue from Operations of INR 62,229 million, a decrease of 25% compared to the same period last year.
• EBITDAR of INR 6,483 million with EBITDAR margin of 10.4% compared to EBITDAR of INR 867 million with EBITDAR margin of 1.0% for the same period last year.
• Loss before tax of INR 11,575 million, compared to a loss before tax of INR 12,898 million during the same period last year.
• Net loss of INR 11,472 million compared to a net loss of INR 8,708 million in the same period last year.
• Basic earnings per share of negative INR 29.8

For the year ended March 31, 2021

• Revenue from Operations of INR 146,406 million, a decrease of 59.1% compared to the last year against a capacity decrease of 52.8% during the year.
• EBITDAR of INR 6,227 million with EBITDAR margin of 4.3%, compared to EBITDAR of INR 50,824 million with EBITDAR margin of 14.2% for the last year.
• Loss before tax of INR 58,181 million, compared to loss before tax of INR 2,557 for the last year.
• Net loss of INR 58,064 million, compared to net loss of INR 2,337 in the last year.
• Basic earnings per share of negative INR 150.9
• Strong balance sheet with a total cash of INR 185,685 million including free cash of INR 70,997 million.

Profitability Metrics

		Quarter ended		Full year
Particulars (INR mn)	Mar'21	Mar '20	Change	Mar'21	Mar'20	Change
EBITDAR	6,483	867	647.6%	6,227	50,824	-87.7%
PBT	(11,575)	(12,898)	10.3%	(58,181)	(2,557)	-2,175.6%
PAT	(11,472)	(8,708)	-31.7%	(58,064)	(2,337)	-2,384.8%

Operational Metrics*

		Quarter ended		Full year
Particulars	Mar '21	Mar '20	Change	Mar '21	Mar '20	Change
ASK (billion)	19.2	23.0	-16.7%	45.4	96.3	-52.8%
RPK (billion)	13.5	19.1	-29.4%	31.5	82.6	-61.8%
Load Factor	70.2%	82.9%	-12.7pts	69.4%	85.8%	-16.4pts

*Includes non-scheduled operations. Excludes cargo charters

The Company's CEO, Mr. Ronojoy Dutta said "This has been a very difficult year with our revenues slumping hard due to covid, showing some signs of recovery during the period December to February and then slumping again with the second wave of the covid. While we have seen a sharp decline in revenues in March through May, we are encouraged by the modest revenue improvements starting last week of May and continuing through June.

We see this pandemic as a period of great trial for both our shareholders and our employees. We are focusing all our efforts and all our energies to strengthen the foundations and the pillars of IndiGo so that we emerge from this trial significantly stronger structurally and even more customer responsive than ever before. While we have produced disappointing financial results this year, we have also positioned ourselves to be the best-in-class airline when the inevitable recovery finally arrives."

Revenue and Cost Comparisons

Total income for the quarter ended March 2021 was INR 63,618 million, a decrease of 26.3% over the same period last year. For the quarter, our passenger ticket revenues were INR 49,741 million, a decrease of 30.2% and ancillary revenues were INR 8,907 million, a decrease of 17.2% compared to the same period last year.

		Quarter ended		Full year
Particulars (INR mn)	Mar '21	Mar '20	Change	Mar '21	Mar '20	Change
Revenue from Operations	62,229	82,991	-25.0%	146,406	357,560	-59.1%
Other Income	1,389	3,356	-58.6%	10,370	15,355	-32.5%
Total Income	63,618	86,346	-26.3%	156,776	372,915	-58.0%
RASK* (INR)	3.26	3.65	-10.6%	3.30	3.77	-12.4%
Yield (INR/Km)	3.70	3.74	-1.2%	3.76	3.81	-1.4%

* Net of finance income of INR 1,083 million and INR 2,404 million for quarter ended Mar '21 and Mar'20 respectively, and INR 6,812 million and INR 10,084 million for full year ended Mar '21 and Mar'20 respectively

Total expenses for the quarter ended March 2021 were INR 75,193 million, a decrease of 24.2% over the same quarter last year. CASK excluding fuel was INR 2.87, a decrease of 3.3% over the same quarter last year.

		Quarter ended		Full year
Particulars (INR mn)	Mar '21	Mar '20	Change	Mar '21	Mar '20	Change
Fuel Cost	19,145	28,604	-33.1%	38,313	124,538	-69.2%
Other Costs excluding fuel	56,049	70,640	-20.7%	176,644	250,934	-29.6%
Total Cost	75,193	99,244	-24.2%	214,957	375,472	-42.8%
CASK* (INR)	3.86	4.21	-8.2%	4.58	3.80	20.7%
CASK ex fuel* (INR)	2.87	2.96	-3.3%	3.74	2.50	49.4%

* Net of finance income of INR 1,083 million and INR 2,404 million for quarter ended Mar '21 and Mar'20 respectively, and INR 6,812 million and INR 10,084 million for full year ended Mar '21 and Mar'20 respectively

Cash and Debt

As of 31st March 2021:

• IndiGo had a total cash balance of INR 185,685 million comprising of INR 70,997 million of free cash and INR 114,688 million of restricted cash.
• The capitalized operating lease liability was INR 257,387 million. The total debt (including the capitalized operating lease liability) was INR 298,597 million.

Network and Fleet

As of 31st March 2021:

• Fleet of 285 aircraft including 100 A320ceos, 120 A320neos, 39 A321neo and 26 ATRs; a net reduction of 2 aircraft during the quarter.
• Operated at a peak of 1,301 daily flights during the quarter including non-scheduled flights.
• Providing services to 65 domestic destinations and 10 international destinations through air bubble flights.

Operational Performance

For the period January-March'21

• The Company had a Technical Dispatch Reliability of 99.93%.
• The Company had on-time performance of 95.17% at the four key metros and flight cancellation rate of 0.89%.

Awards and Accolades

• IndiGo is now Great Place to Work-certified. This recognition, from the 'Great Place to Work Institute', reinforces our commitment to a high-trust, high-performance culture at IndiGo. It further strengthens our position as one of the best workplaces in India that offers a safe and inclusive work environment.
• IndiGo won a Silver award at the SAMMIE Best Social Media Brands Award by Social Samosa for our 'Lean, clean flying machine' campaign under the 'Covid-19 category'.
• IndiGo won three awards at the AVA Digital Awards 2021: A Platinum award, for our 'Micro Influencer Campaign' focused on improving sentiments and brand /product awareness, in the web-based production and Social Media category, a Gold for our 'Emailer Campaign' on personalised fare drop and discount, in the digital marketing and content marketing category and another Gold for 'Improving SEO Ranking'.
• IndiGo won four awards at Stevie Awards for Sales & Customer Service 2021: A Gold award for the 'Contact Centre of the Year' (over 100 Seats), a Silver award for 'Best Use of Technology in Customer Service', and a Bronze award for both 'Best Customer Feedback Strategy' and 'Customer Service Complaints Team of the Year'.
• IndiGo won two awards at the 7th edition of the 'Indian Marketing Awards' 2021 felicitated by 'exchange4media': A Gold award for the 'Best use of PR' for the campaign 'Flying high despite cockpit battle' and a Silver award for 'Customer experience' for our Marketing campaign 'Lean Clean Flying Machine'
• IndiGo Singapore won the 'Let's Talk Cargo' trophy and 'Changi Airlines Award 2020' trophy at an event held on 25 February 2021 at Changi Airport.

Conference Call

The Company will conduct a live audio earnings call on June 07 at 5 pm IST which will be available to the public on a listen only mode followed by Q&A session. The dial-in details are given below:

Dial-in Numbers
Universal Access	Primary Number: +91 22 7115 8212
Local Access Number	Primary Number: 1 800 120 1221 or 1 800 266 1221
Other Regions	USA:	18667462133	or	13233868721
	UK:	08081011573	or	442034785524
	Singapore:8001012045or6531575746
	Hong Kong:	800964448	or	85230186877
	Japan:	00531161110	or	81345899421
Pre-register at the following URL and get your unique dial-in details for the call
Diamond Pass	https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumbe
	r=9748154&linkSecurityString=2070bca6c2

About IndiGo

IndiGo is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, and a courteous, hassle-free travel experience. With its fleet of 285 aircraft as of 31st March 2021, the airline offered 1,301 peak daily flights during the quarter and connected 65 domestic destinations and 10 international destinations.

Disclaimer

This document may contain some statements on the Company's business or financials which may be construed as forward looking. The actual results may be materially different from these forward-looking statements.