IndiGo cuts losses as sales soar
IndiGo narrowed its quarterly net loss on year as air travel demand increased and offset soaring costs of fuel. India’s biggest airline by market share posted a net loss of ₹1, 064 crore in the April-June quarter compared to a loss of ₹3,174 crore a year earlier.
Its outgoing CEO Rono Dutta said the airline will continue to be in the red in July-September. But he expects it to return to profit in October-December. IndiGo posted total revenue of ₹12,855 crore, a 375% increase on year. Its number of passengers rose 222%. But fuel costs for the quarter doubled to ₹5,990 crore. “Our revenue performance this quarter was impressive,” said Dutta.
