IndiGo reports record Q2 loss of Rs 1,062 crore

Interglobe AviationNSE -9.62 % on Thursday posted a quarterly loss of Rs 1,062 crore, its biggest ever since the owner of IndiGo airline went public four years ago, primarily due to its failure to keep a check on costs.

The company reported a net loss of Rs 1,062 crore for the second quarter of the financial year, compared with Rs 652 crore a year earlier when it posted its first net loss since the 2015 listing.

Revenue from operations rose 31% to Rs 8,105 crore. Revenue per available passenger kilometre at the nation’s biggest airline by market share increased 5.7%, while yield or average price rose 9.4%. Indigo’s fuel cost increased just 3% to Rs 3,115 crore, but other expenses jumped 45% to Rs 6,456.2 crore, widening the net loss.