IndiGo Q1 results: Net loss narrows to Rs 1,064 cr; revenue surges 328%

Interglobe Aviation, which runs IndiGo airline, on Wednesday said its net loss narrowed to Rs 1,064.3 crore for the quarter ended June 30, 2022. It reported net loss of Rs 3,174.2 crore in the year-ago period.

The airline’s revenue from operations rose 328% to Rs 12,855.3 crore.

On Wednesday, the company’s scrip on BSE closed 1.2% higher at Rs 1,967.

CEO Ronojoy Dutta said, “Our revenue performance this quarter was impressive. We reported the highest ever revenue generated by the company and thereby produced profits at an operational level. However, cost pressures on fuel and foreign exchange prevented us from translating this strong revenue performance into net profitability.

“While our financial performance in the second quarter will be challenged by weak seasonality, the long-term revenue trend remains strong.”

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