IndiGo tanks 4% on record Q1 net loss of Rs 2,844 crore, recovers later
Shares of InterGlobe Aviation – parent of IndiGo airline – declined 4 per cent to Rs 873 on the BSE on Thursday after the airline reported record net loss of Rs 2,844.3 crore in April-June quarter of FY21. The airline had reported record net profit of Rs 1,203 crore in the year-ago quarter.
“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 airline recouped morning losses and was trading 1.73 per cent higher at Rs 925.5 apiece on the BSE ahead of its Board meeting scheduled for later today. In comparison, the S&P BSE Sensex was at 38,331 level, up 260 points or 0.68 per cent. The stock hit an intra-day high of Rs 936.5.
