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Home / Companies / Company Results /  IndiGo posts 1,681 cr loss in Q4 as fuel costs soar
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After a surprise profit in the third quarter, budget carrier IndiGo, hit by higher fuel costs, posted a loss of 1,681 crore in the three months to March.

IndiGo, India's largest airlines, had reported a small but surprise profit of 128 crore in the December quarter.

On Wednesday, IndiGo shares closed 2.08% lower at 1,648 apiece on NSE.

Revenue from operations came in at 8,020 crore in the fourth quarter, up 29%, compared with 6,223 crore in the last year. However, on a sequential basis, revenue fell 14%.

Fuel prices increased by 61% compared to the same period last year.

“This quarter has been difficult because of the demand destruction caused by the Omicron virus in the first half. Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee," said IndiGo CEO Ronojoy Dutta.

"We believe IndiGo is best positioned to maximise revenue in a recovering market. As we work to return the airline to profitability, we are focused on maintaining our cost leadership position and continuing to build the most efficient network in the region," he said.

There is an increase in number of passengers by 10.3% compared to the same period last year, IndiGo said.

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