IndiGo Q1 net loss widens to Rs 3,174 crore; misses Street estimates

The budget carrier's revenue declined 51.6 per cent at Rs 3,006.9 crore during the quarter under study compared with revenue of Rs 6,223 crore clocked in the March quarter

InterGlobe Aviation-owned IndiGo airline’s June quarter (Q1FY22) net loss widened at Rs 3,174.2 crore on Tuesday amid a triple whammy of muted air traffic, oil prices rise, and depreciation of the rupee depreciated.
 

The airline had posted a net loss of Rs 1,160 crore in Q4FY21 and Rs 2,849.4 crore in the previous-year period.
 

“During the current quarter, the country was under a severe impact of second wave of Covid-19. As a result, all state Governments reintroduced measures including lockdown to curtail spread of the virus. This has led to a significant drop in air traffic thereby severely impacting our