InterGlobe Aviation posts Rs 1,062 crore loss in September quarter

NEW DELHI: Budget carrier IndiGo’s parent InterGlobe Aviation on Thursday posted a net loss of Rs 1,062 crore for the September quarter, mainly on account of higher costs related to operating lease liabilities.
The company had a loss of Rs 651.5 crore in the same period a year ago.
According to a release, InterGlobe Aviation’s total income rose 31 per cent to Rs 8,539.8 crore in the second quarter of the current fiscal.
In the year-ago period, the same stood at Rs 6,514.1 crore.
IndiGo CEO Ronojoy Dutta said that while revenue performance was much better during the September quarter, the losses were accentuated by forex losses on operating lease liabilities created under Ind AS 116, and re-assessment of accrual estimates for future maintenance cost.