IndiGo cuts Q1 loss to Rs 1,064 crore amid headwinds of weak rupee & costly fuel
NEW DELHI: IndiGo has reported a loss of Rs 1,064.3 crore in the April-June 2022 quarter — down by almost a third from a loss of Rs 3,174.2 crore in same period last year.
The sharp increase in jet fuel prices and a weaker rupee negated gains of a strong recovery in air traffic that saw India’s largest airline (by passenger carriage) carrying 222% more flyers this Q1, thereby leading to the loss.
IndiGo’s scrip closed at Rs 1,967, up 1.2% on BSE Wednesday when the broader market ended 0.4% in the green.
