IndiGo reports fourth straight quarterly loss at ₹620.14 cr

NEW DELHI : InterGlobe Aviation Ltd, which runs India’s biggest domestic airline IndiGo, plunged into a fourth straight quarterly net loss as the pandemic crimped demand for air travel.

Losses, however, almost halved to ₹620.14 crore in the three months ended 31 December from ₹1,194.83 crore in the September quarter. IndiGo had posted a net profit of ₹495.97 crore in the December quarter of the previous year.

The airline’s revenue dropped 50.2% to ₹5,142.78 crore in the quarter under review, underscoring that a full recovery of the domestic aviation industry is still some time away.

A Bloomberg survey of six brokerages had forecast the company to report a loss of ₹334.20 crore on revenue of ₹5,028.20 crore.