IndiGo posts its highest ever loss at ₹3,174 crore

InterGlobe Aviation Ltd, the parent of India’s top domestic airline IndiGo, posted its biggest-ever quarterly loss, hit by the devastating second wave of the pandemic and continued restrictions on air travel.

Foreign exchange losses and lower interest income also contributed to IndiGo’s weak earnings in the three months through June. It was the airline’s sixth consecutive quarterly loss.

Loss widened to ₹3,174.20 crore in the June quarter from ₹2,844.3 crore a year earlier.

Total revenue, however, surged 177% to ₹3,170.25 crore, mainly because scheduled flight services were banned between March and May last year by the government to contain the pandemic’s first wave.