IndiGo Q2 results: Airline posts Rs 2,582 crore loss on forex hit; revenue up 9% YoY as cost pressures rise

After flying high in the June quarter, IndiGo’s earnings took a sharp turn as the airline posted a net loss of Rs 2,582 crore for the September quarter. The reversal comes despite steady growth in operations and passenger traffic, with revenue rising 9% year-on-year (YoY) to Rs 18,555 crore, according to an ET report. In contrast, the carrier had reported a profit of Rs 2,176 crore in the previous quarter.

The September setback marks a deeper loss than the Rs 987 crore recorded a year earlier, with the impact of foreign exchange fluctuations wiping out profitability. Excluding the forex hit, IndiGo said it would have earned a net profit of Rs 104 crore.