Home / Business and Economy / IndiGo Narrows Loss Despite Soaring Expenses
IndiGo Narrows Loss Despite Soaring Expenses
29 Oct
Summary
- IndiGo reported a loss of Rs 1,879.1 crore for the September quarter.
- Total income rose to Rs 24,311.9 crore from Rs 19,599.5 crore year-on-year.
- Aircraft fuel expenses surged to Rs 9,996.8 crore in the latest quarter.
InterGlobe Aviation, the parent company of IndiGo, reported a narrowed net loss of Rs 1,879.1 crore for the September quarter. This represents an improvement compared to the Rs 2,582.1 crore loss recorded in the same period of the previous year.
The airline's total income grew to Rs 24,311.9 crore during the second quarter of the current fiscal year. This marks an increase from the Rs 19,599.5 crore reported in the year-ago period.
However, the financial results were significantly affected by rising operational costs. Total expenses surged to Rs 26,188.4 crore in the September quarter. A major contributor to this increase was the substantial rise in aircraft fuel expenses, which amounted to Rs 9,996.8 crore.
