Aviation company InterGlobe Aviation Ltd, which operates budget airline IndiGo, reported a net loss of Rs 6.52 billion for the quarter ended September 30, hurt by higher crude oil prices and a weaker rupee. The company had reported a profit of Rs 5.52 billion in the same period the previous year.
The company said that high fuel prices were responsible for more than half of the decline in earnings. It added that its numbers were also impacted by the rupee depreciation and lower yields.
IndiGo slipped into losses during the quarter in spite of its revenue from operations rising 16.9 per cent to Rs 61.85 billion.
