InterGlobe Aviation, the parent company of the country’s largest airline, IndiGo, posted a larger loss to Rs 1,583.34 crore for the September quarter on Friday, mainly due to higher costs.
The airline had a loss of Rs 1,435.66 crore last year.
However, the company’s revenue rose to Rs 12,852.29 crore in the second quarter of the current fiscal year, from Rs 5,798.73 crore in the same period a year ago, according to a release.
In the last quarter of September, the total cost rose to Rs 14,435.57 crore.
IndiGo CEO Pieter Elbers said the September quarter was the second consecutive quarter in which it operated at higher than pre-COVID capacity.
“Despite a seasonally weak quarter, we witnessed relatively good revenues with strong demand across the network. However, fuel prices and exchange rates have negatively impacted our financial performance.
“We are on a steady path to recovery, taking advantage of huge opportunities in both domestic and international markets. With an industry challenged by global supply chain disruptions, we are working on several countermeasures to meet this strong demand,” he said.
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