IndiGo operator InterGlobe Aviation  reported a consolidated loss of Rs 1,064 crore in first quarter of FY23, down from Rs 3,174 crore loss reported in the same quarter last fiscal.

The company’s revenue from operations increased to Rs 12,855 crore, up 327.5% from Rs 3,007 crore in the year-ago period. Total income for the quarter jumped 31% YoY to Rs 13,019 crore from Rs 3,170 crore in the same quarter last fiscal.

“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,” said Ronojoy Datta, the outgoing CEO of InterGlobe Aviation in statement.

“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,” he added.

The company expects a jump of 70-80% in capacity available per seat in the current quarter from the same period last year.

The air carrier has been hit by a spate of high-level exits and reports of an exodus of technicians and ground staff to other airlines.