Costly fuel & weak rupee drive up IndiGo Q2 loss to Rs 1583 crore
NEW DELHI: High fuel prices and a weaker rupee have led IndiGo reporting a loss of Rs 1,583.3 crore in the July-September, 2022, quarter, 10% more than its loss of Rs 1,436 crore in same period last year.
India’s largest airline has been operating more flights than pre-Covid levels during the first half of this fiscal. And as fares in traditionally weak travel Q2 did not drop like earlier years, IndiGo’s total income this July-September rose 122% to Rs 12,852.3 crore from last fiscal same time’s Rs 5,798.7 crore. The airline’s scrip closed at Rs 1,797.6, down 0.3% on BSE Friday when the broader market closed up 0.2%.
IndiGo management said airfares have not drop this Q2 as Indian airlines are charging as per the increased operational costs.
