Business

IndiGo posts net loss of Rs2,844 crore

Interglobe Aviation on Wednesday reported a net loss of Rs 2,844.3 crore for the three months ended in June, as the coronovirus epidemic significantly affected the airlines.

The parent of IndiGo, the country’s largest airline, had a net profit of Rs 1,203.1 crore in the year-ago period.

The total revenue of the airline declined by 88% to Rs 1,143.8 crore in the first quarter of the current financial year. According to the regulatory filing, it stood at Rs 9,786.9 crore in the year-ago period.

Revenue from operations declined 91.9% to Rs 766.7 crore for the quarter under review, compared to the year-ago period.

SpiceJet Takes Rs. 807-Crore Loss for the March Quarter

SpiceJet on Wednesday reported a net loss of Rs 807.1 crore for the fourth quarter ended March 2020 due to a coronavirus-induced lockdown, leading to a travel ban.

The airline said it had posted a net profit of Rs 56.3 crore in the same quarter of the previous financial year. For the entire financial year 2019-20, its net loss was Rs 934.8 crore as against a net loss of Rs 316.1 crore in 2018-19.

Jet Airways’ loss widens to Rs 5,536 crore in FY16

Jet Airways, which is going through a insolvency resolution process, saw a loss of Rs 5,535.75 crore in the year ending in March 2019, mainly due to increased expenses.

The airline, which ceased operations in April last year, incurred a loss of Rs 766.13 crore in 2017-18. In 2018-19, its total income declined by Rs 23,314.11 crore to Rs 23,958.37 crore, compared to the previous fiscal.



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