IndiGo gains as board approves fund raising plan
InterGlobe Aviation rose 1.27% to Rs 965 after the company's board of directors approved the raising of funds for an aggregate amount not exceeding Rs 4,000 crore through an issue of equity shares by way of a qualified institutions placement.
The announcement was made after market hours yesterday, 10 August 2020.
The company reported a consolidated net loss of Rs 2,844.30 crore in Q1 June 2020 as against net profit of Rs 1,203.14 crore in Q1 June 2019. Total income fell 88.31% to Rs 1,143.82 crore. The aviation firm said that closure of scheduled operations till 24 May 2020 and lower capacity deployment thereafter on account of COVID-19 had significantly impacted the latest quarterly result.
InterGlobe Aviation (IndiGo) is a low cost carrier. It had a fleet of 274 aircraft as of 30 June 2020.
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First Published: Aug 11 2020 | 9:20 AM IST