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IndiGo’s net loss widened by 10.28 per cent to Rs 1,583.2 crore in the second quarter of FY23 as against the corresponding period last year due to rupee depreciation and high fuel prices.
“While fuel and forex continue to pose headwinds, we are reasonably confident we will return to operational profitability in the third quarter,” Gaurav Negi, chief financial officer, IndiGo, told investors in a conference call.
About 40 per cent of an Indian airline’s expenditure goes in purchasing fuel. Moreover, a significant part of expenditure is for aircraft lease rental payments in foreign exchange. Hence, high fuel prices and rupee depreciation
