Q1 report card: IndiGo revenue soars 328% to Rs 12,855 crore; loss narrows
India’s largest airline IndiGo clocked record revenue in the quarter ended June, but yet ended up making a loss on the back of high fuel prices and a weak rupee.
While the airline’s revenue from operations surged 328 per cent to Rs 12,855.3 crore from Rs 3,007 crore in the year-ago period, it reported a loss of Rs 1,064.3 crore. However, the Q1FY23 loss was 66.5 per cent less than the loss incurred by the airline in the corresponding period a year ago, IndiGo said in a statement.
Fuel prices for Indian airlines almost doubled in June 2022 as compared to a year ago.
Brokerages had expected losses for the sector to narrow sequentially despite nearly 40 per cent quarter-on-quarter (QoQ)
