InterGlobe Aviation posts Rs 1,062 crore loss in Q2 on higher costs

The logo of IndiGo Airlines is pictured on passenger aircraft on the tarmac in Colomiers near Toulouse | Photo: Reuters

IndiGo's parent InterGlobe Aviation on Thursday posted a net loss of Rs 1,062 crore for the September quarter as higher costs and mark-to-market losses took a toll on the bottom line.

The company had a loss of Rs 651.5 crore in the same period a year ago.

These figures are after tax.

According to a release, InterGlobe Aviation's total income rose 31 per cent to Rs 8,539.8 crore in the second quarter of the current fiscal.

In the year-ago period, the same stood at Rs 6,514.1 crore.

"Mark-to-market losses on capitalised operating leases of Rs 4,282 million and higher maintenance cost of Rs 3,190 million significantly impacted profitability," the company said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel