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COVID impact: IndiGo’s net loss at Rs 2,844.3 cr in Q1FY21

IndiGo on Wednesday posted its highest ever quarterly net loss at ₹2,844.3 crore for the first-quarter of 2020-21

By IANS
Photo Courtesy: IANS
Photo Courtesy: IANS 

InterGlobe Aviation which runs airline major under the brand name of IndiGo on Wednesday posted its highest ever quarterly net loss at ₹ 2,844.3 crore for the first-quarter of 2020-21.

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"Closure of scheduled operations till May 24, 2020 and lower capacity deployment thereafter on account of COVID-19, significantly impacted the quarterly results," the company said in a statement.

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"IndiGo reports net loss of ₹ 28,443 million and a negative EBITDAR of ₹ 14,212 million for the quarter ended June 2020."

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The company had posted a profit of ₹ 1,203.1 crore in the like period of the previous fiscal.

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Also read:Air India goes for hiring as employees protest LWP policy

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