Aviation industry to bring down net loss to Rs 3-5k cr from Rs 17k cr
1 year, 2 months ago

Aviation industry to bring down net loss to Rs 3-5k cr from Rs 17k cr

Deccan Chronicle  

Chennai: The Indian aviation industry’s net loss is expected to come down to Rs 3000 to Rs 5000 crore in FY24, down from Rs 17,000 crore in FY23. Airline companies are expected to report an aggregate net loss of Rs 3000 crore to Rs 5000 crore in the current fiscal due to improved pricing power and yields. The domestic passenger traffic in September was 19 per cent higher than the year-ago month and the international traffic between April and July was 32 per cent higher than last year, finds ICRA. The industry had reported a net loss of Rs 17,000 – Rs 17,500 crore in FY2023 due to due to elevated ATF prices along with the depreciation of the rupee against the US dollar.

Crore Cent 2023 Net Loss  industry  aviation  crore  rs  net  2023  bring  liquidity  cr  prices  cent  atf  airlines  35k  17k  loss

History of this topic

This Airline Reduced It's Staff By Nearly 2,000 In FY24; Check The Details Here
2 weeks, 1 day ago

This Airline Reduced It's Staff By Nearly 2,000 In FY24; Check The Details Here

ABP News  

SpiceJet, India's sixth-largest airline, downsised its workforce in FY24, impacting thousands of employees. Meanwhile, SpiceJet reported a 9 per cent decline in staff salaries and benefits/expenses, which dropped to Rs 7,705.44 million in FY24, compared to Rs 8,438.71 million in FY23. The airline's total income fell by 14 per cent to Rs 84,969.69 million, while operating revenue decreased by 21 …

Corporate India saw 3.7 pc revenue growth in FY24: ICRA
6 months, 1 week ago

Corporate India saw 3.7 pc revenue growth in FY24: ICRA

Deccan Chronicle  

Chennai: Corporate India reported 3.7 per cent revenue growth in FY24. The softening of input costs helped 17.4 per cent growth in earnings. This softening of input costs along with operating leverage benefits helped the companies see an expansion in operating profit margin by 92 bps to 17.2 per cent in Q4 FY2024. However, the OPM growth of 17.4 per …

Paytm Q4 results: Loss widens to Rs 549.60 cr, revenue falls 2.6%
7 months ago

Paytm Q4 results: Loss widens to Rs 549.60 cr, revenue falls 2.6%

Business Standard  

Digital payments firm Paytm on Wednesday reported a wider consolidated loss of Rs 549.6 crore in the fourth quarter of 2023-24, compared to Rs 168.4 crore in the same quarter last year. Net income declined by 2.6 per cent year-on-year to Rs 2,398.8 crore in Q4FY24 compared to Rs 2,464.6 crore in Q4FY23. Overall revenue for the entire FY24 rose …

Domestic air passenger traffic likely touched 15.4 crore in 2023–24: Report
8 months, 1 week ago

Domestic air passenger traffic likely touched 15.4 crore in 2023–24: Report

New Indian Express  

NEW DELHI: Domestic air passenger traffic is likely to have witnessed an annual growth of 13 percent at around 15.4 crore in 2023–24, and the aviation industry's net loss is expected to have declined to Rs 3,000–4,000 crore during the same period, says a report. For FY24, it said domestic air passenger traffic is estimated at around 154 million, a …

Hindustan Aeronautics to consider stock split, final dividend next week
1 year, 5 months ago

Hindustan Aeronautics to consider stock split, final dividend next week

Live Mint  

On Friday, shares of Hindustan Aeronautics Ltd rose 2.61 percent from their previous closing price of ₹3,763.70 to an intraday high of ₹3,861.80 a share. In Q4FY23, the company recorded a net profit of ₹2,844.64 crore, a decrease of 8.36% from Q4FY22's net profit of ₹3,103.99. In comparison to FY22, net sales increased by 9.37 percent to ₹26,927 crore, and …

Indian Aviation Industry Suffers Over Rs 24,000 Crore Loss In 2020-22
1 year, 10 months ago

Indian Aviation Industry Suffers Over Rs 24,000 Crore Loss In 2020-22

News 18  

India’s aviation industry suffered a loss of over Rs 24,000 crore in the last two financial years during 2020-22. As per the Union Ministry of Civil Aviation, the industry in FY 2020-21 suffered a loss of Rs 12,479 crore and in FY 2021-22 it was Rs 11,658 crore. In a reply at the Lok Sabha on Thursday, the Ministry said …

Uber India narrows net loss to Rs 216 crore in FY22; details here
2 years ago

Uber India narrows net loss to Rs 216 crore in FY22; details here

Firstpost  

Uber India managed to grow its operational revenue by 7 percent to Rs 397 crore in the current fiscal year from Rs 370 crore in FY21. Amid this scenario, leading online cab service provider Uber India has managed to bring down its net loss to Rs 216 crore in Fiscal Year 22. Uber’s second-largest cost after the input expenditure, employee …

Latest news LIVE: India's growth expected to slow in FY24, says JP Morgan
2 years ago

Latest news LIVE: India's growth expected to slow in FY24, says JP Morgan

Business Standard  

India's GDP growth is on course to print close to 7 per cent this year in 2022-23, foreign brokerage, JP Morgan said in a report. The Ministry of Finance slashed the tax on crude oil produced by firms such as state-owned Oil and Natural Gas Corporation to Rs 1,700 per tonne from the existing Rs 4,900 per tonne, a government …

Byju's losses widen to ₹4,588 crore in FY21
2 years, 3 months ago

Byju's losses widen to ₹4,588 crore in FY21

The Hindu  

Byju's booked a loss of ₹4,588 crore for fiscal year ended March 31, 2021, 19 times more than the preceding fiscal, as the nation's most valuable start-up on Wednesday released audited financial statements after months of delay. But in the following fiscal, ending March 31, 2022, the company said revenue soared fourfold to ₹10,000 crore but it did not disclose …

IndiGo Q4 loss widens to ₹1,681 crore on zooming fuel costs, Omicron wave
2 years, 6 months ago

IndiGo Q4 loss widens to ₹1,681 crore on zooming fuel costs, Omicron wave

The Hindu  

India’s largest airline IndiGo reported a widening of loss to ₹1,681 crore for the quarter ended March 31 from the ₹1,147-crore loss a year earlier, on soaring fuel costs, the impact of the Omicron wave and a weakening rupee. IndiGo also recorded a widening of loss to ₹6,161 crore for FY22, compared with a loss of ₹5,806 crore in the …

Jet Fuel Prices At All-time High: Will Airlines Raise Domestic Flight Ticket Prices Soon?
2 years, 8 months ago

Jet Fuel Prices At All-time High: Will Airlines Raise Domestic Flight Ticket Prices Soon?

News 18  

As the jet fuel prices have been rising for quite some time and currently hovering at an all-time high levels, the aviation industry is facing the heat on its finances. ICRA on Jet Fuel Hikes Rating agency ICRA expects the Indian aviation industry to report a net loss of Rs 25,000-26,000 crore in FY2022. “Elevated aviation turbine fuel prices, which …

Indian aviation industry may incur losses worth ₹26,000 crore in FY22: Report
3 years, 3 months ago

Indian aviation industry may incur losses worth ₹26,000 crore in FY22: Report

The Hindu  

Pandemic-hit Indian aviation industry is expected to report a net loss of ₹25,000-26,000 crore while its debt level may increase to ₹1.2 lakh crore in the ongoing fiscal year, credit ratings agency ICRA said on Tuesday. The aviation industry is expected to witness a strong year-on-year growth of 45-50% in domestic air passenger traffic and80-85% in international air passenger traffic …

Data | How did Central Public Sector Enterprises perform in FY2020?
3 years, 3 months ago

Data | How did Central Public Sector Enterprises perform in FY2020?

The Hindu  

Financial Year 2020, the one-year period just before the national lockdown was announced, was relatively worse for Central Public Sector Enterprises in terms of profits and employment. Profit and loss Close to 66.8% of the CPSEs made profits in FY20 — the lowest share in the last five years. Double blow The aggregate net profit of profit-making CPSEs reduced from …

Indian airports report loss of ₹70 billion in FY2020: aviation consultancy
3 years, 4 months ago

Indian airports report loss of ₹70 billion in FY2020: aviation consultancy

The Hindu  

Indian airport operators are estimated to have posted a consolidated loss, before tax, of ₹70 billion in FY2021 compared with a profit of ₹51.6 billion in FY2020, according to aviation consultancy CAPA. The combined operating revenue of Indian airports declined by an estimated 64.1% to ₹83.1 billion in FY2021. However, as most airport expenses are fixed, Indian airports saw their …

ONGC Books Rs 1,238 Cr Impairment Loss, Q2 Net Profit Down 55 Pc
4 years, 1 month ago

ONGC Books Rs 1,238 Cr Impairment Loss, Q2 Net Profit Down 55 Pc

News 18  

India's top oil and gas producer ONGC booked a Rs 1,238-crore impairment loss, which together with a fall in prices led to a 55 per cent drop in the company's September quarter net profit. Standalone net profit at Rs 2,878 crore in July-September quarter was 54.6 per cent lower than Rs 6,336 crore net profit a year ago, the company …

Civil aviation revenues down 85%, 18,000 jobs lost
4 years, 3 months ago

Civil aviation revenues down 85%, 18,000 jobs lost

Deccan Chronicle  

Chennai: Revenues in the civil aviation sector have dropped by 85 per cent since the coronavirus lockdown. As per the data from the Ministry of Civil Aviation, domestic traffic fell close to 80 per cent from 5.85 crore during March-July 2019 to 1.20 crore in March-July 2020. International traffic too reduced 87 per cent from 93.45 lakh to 11.55 lakh …

Air India's Net Loss Stands at Around Rs 2,570 Crore in First Quarter of 2020-21: Puri
4 years, 3 months ago

Air India's Net Loss Stands at Around Rs 2,570 Crore in First Quarter of 2020-21: Puri

News 18  

Air India has incurred a net loss of about Rs 2,570 crore in the first quarter of 2020-21 as compared to a net loss of Rs 785 crore sustained in the corresponding period a year ago, Civil Aviation Minister Hardeep Singh Puri said on Thursday. "The net loss in quarter 1 of FY20-21 is about Rs 2,570 crore as compared …

Revenues of Indian airlines fell by over 85% in April-June period: Hardeep Singh Puri
4 years, 3 months ago

Revenues of Indian airlines fell by over 85% in April-June period: Hardeep Singh Puri

India Today  

The revenue of Indian airlines fell by over 85 per cent to Rs 3,651 crore during the first quarter of FY21 due to the severe disruption caused by the Covid-19 pandemic. Civil Aviation Minister Hardeep Singh Puri on Wednesday stated in a written reply in Rajya Sabha that Indian airlines suffered a 85.7 per cent revenue loss in comparison to …

IndiGo reports record quarterly net loss of ₹2,844.3 crore in Q1 on account of covid-19
4 years, 4 months ago

IndiGo reports record quarterly net loss of ₹2,844.3 crore in Q1 on account of covid-19

Live Mint  

New Delhi: InterGlobe Aviation Limited, which operates the country's largest airline, reported its largest quarterly loss during the three months that ended on 30 June, due to muted demand, amidst lockdown and travel restrictions, caused by the covid-19 pandemic. The airline's expenses however dropped by 51.8% to ₹3,986.40 crore during the April-June 2020 period as it didn't operate any scheduled …

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