You are here: Home » News-ANI » Business
Business Standard

Indigo posts Rs 652.1 crore net loss for Q2

ANI  |  New Delhi [India] 

InterGlobe Aviation Ltd. (IndiGo) has reported a net loss of Rs 652.1 crore for the quarter ended September compared to a net profit of Rs 551.6 crore for the same period last year.

"Total income for the quarter ended September 2018 was Rs 6,514.2 crore, an increase of 18.3 percent over the same period last year. For the quarter, our passenger ticket revenues were Rs 5,285.2 crore, an increase of 17.2 percent and ancillary revenues were Rs 716.7 crore, an increase of 12.8 percent compared to the same period last year," read a statement from the airline.

However, the total expenses for the quarter ended (September 2018) for Indigo were Rs 7,502.3 crore, an increase of 58.2 percent over the same quarter last year.

"Aviation in India is facing significant pressures from high fuel costs, rupee depreciation and intense competition, all of which have impacted our profitability this quarter. Despite this difficult environment, IndiGo remains well-positioned thanks to our low-cost structure and strong balance sheet," said company's co-founder and interim CEO, Rahul Bhatia.

"Along our journey to build the leading nationwide air transport network, we added 20 aircraft this quarter, entered an additional 5 cities and started 35 new routes. We now fly over 100 daily departures from each of the six metros. I would like to thank all the IndiGo team, who work relentlessly to create a world-class airline for our customers," Bhatia added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 25 2018. 10:16 IST