IndiGo reports ₹1,062 cr loss in September quarter as costs rise
NEW DELHI : InterGlobe Aviation Ltd, which runs India’s largest budget airline IndiGo, plunged to a wider-than-expected quarterly loss with higher maintenance and overhaul costs outweighing the increase in passenger traffic.
IndiGo posted a loss of ₹ 1,062 crore in the September quarter (Q2) compared with a loss of ₹652 crore a year earlier.
Total revenue increased 31% year-on-year to ₹ 8,539.80 crore in Q2FY20, as it carried more passengers. The growth in traffic also led to a 9.4% rise in yield for the quarter.
Earnings lagged market expectations. A Bloomberg poll of nine analysts forecast the airline to report a loss of ₹76.70 crore in the September quarter.
