IndiGo posts Q3 loss of Rs 620 crore; has lost Rs 4,659 crore so far this fiscal
NEW DELHI: India’s largest airline IndiGo has reported a loss of Rs 620 crore in the October-December 2020 quarter, against a profit of Rs 496 crore in same period last fiscal.
Its operational revenue was Rs 4,910 crore this Q3, down 51% from Rs 9,931 crore from same period last fiscal. The airline’s scrip closed almost flat at Rs 1,590 on Thursday when BSE declined by over 1%.
During Covid-ravaged 2020, IndiGo saw its highest ever quarterly loss of Rs 2,844 crore in the April-June period; followed by a loss of Rs 1,195 crore in the July-September period.
The airline has lost Rs 4,659 crore — almost Rs 17 crore daily — in the first nine months of this fiscal.
“The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilisation are so very critical for our return to profitability. We had promised to come out of the crisis stronger than we went in and with the full commitment of all our employees, we are beginning to deliver on that promise,” IndiGo CEO Ronojoy Dutta said.
