IndiGo Q2 loss rises 63% to cross Rs 1,000 crore
NEW DELHI: India’s only profitable airlines has flown deeper into red with a loss of Rs 1,062 crore this July-September quarter, 63% more than Rs 651 crore lost in same period last year.
The low cost carrier said its highest-ever quarterly loss was “accentuated by forex losses and re-assessment of future maintenance cost.” The scrip of IndiGo, whose founder-promoters Rahul Bhatia and Rakesh Gangwal are engaged in a bitter legal battle for control, closed 0.75% up at Rs 1,666.35 on BSE Thursday.
The airline’s total income in the weak travel Q2 rose 31% from Rs 6,514 crore in Q2 FY-19 to Rs 8,540 crore this time on a 24.2% increase in capacity. And the total cost rose 27.6% from Rs 7,501 crore in last Q2 to Rs 9,571.6 crore this time.
