₹1,682 crore in the March quarter on the back of rising fuel costs, a depreciating rupee, and a covid-induced fall in demand in early January NEW DELHI : InterGlobe Aviation, which operates IndiGo, on Wednesday said its consolidated losses widened to ₹1,682 crore in the March quarter on the back of rising fuel costs, a depreciating rupee, and a covid-induced fall in demand in early January.
Indigo had posted losses of ₹1,147.16 crore in the year-ago period, but reported a consolidated profit of ₹129.79 crore in the October-December period after nearly two years.
In the quarter ended March, IndiGo’s revenue was up by 9% from the year-earlier to ₹8,207 crore. However, expenses rose 31.5% from the year-earlier to ₹9,884 crore, which included a 68.2% increase in fuel cost of ₹3,220.58 crore.
IndiGo’s result did not meet street estimates. A Bloomberg poll had estimated the airline’s loss at about ₹900 crore in the March quarter, on the back of a revenue of ₹8,000 crore.