IndiGo reports Q1 loss at Rs 2,844 crore, revenue dips 92% YoY to Rs 767 cr
InterGlobe Aviation-owned IndiGo airline on Wednesday reported standalone net loss of Rs 2,844.3 crore for June quarter of FY21 (Q1FY21), compared to profit of Rs 1,203 crore clocked in the previous-year quarter. On a quarterly basis, the loss widened 226.5 per cent from Rs 871 crore incurred in the March quarter of FY20.
“Closure of scheduled operations till May 24, 2020 and lower capacity deployment thereafter on account of Covid-19, significantly impacted the quarterly results. lndiGo reports net loss of Rs 2,844.3 crore,” said the airline in a statement. The loss before tax stood at Rs 2,842.6 crore for Q1FY21.
The numbers missed analysts’ expectations, who had factored-in a net loss of Rs 797 crore for the quarter. The most conservative estimate had seen the net loss at Rs 2,673 crore.
