IndiGo to deliberate on raising of funds as company posts highest loss

Inter Globe Aviation, which runs airline major IndiGo, has said its Board of Directors have decided to further deliberate on the matter relating to fund raising.

The company's Board decided this at its meeting held on Thursday.

"We hereby inform you that the Board of Directors of InterGlobe Aviation at its meeting have decided to further deliberate on the matter relating to raising of funds at a subsequent Board meeting," the company said in a regulatory filing.

The development comes a day after the company posted its highest ever quarterly net loss at Rs 2,844.3 crore for the first quarter of 2020-21.

It had posted a profit of Rs 1,203.1 crore in the like period of the previous fiscal.

"IndiGo had a total cash balance of Rs 184,498 million comprising Rs 75,276 million of free cash and Rs 109,222 million of restricted cash. The capitalised operating lease liability was Rs 211,779 million. The total debt (includi ng the capitalised operating lease liability) was Rs 235,516 million," the company said in a statement on Thursday.

In its outlook, the company said it expects the Q2 fiscal 2021 to be around 40 per cent of Q2 FY20.

--IANS

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