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The Hindu
The Hindu
National
Special Correspondent

IndiGo reports Q1 loss of ₹1,064 crore on high ATF prices, rupee depreciation

IndiGo ATF Ronojoy Dutta

Budget airline IndiGo reported the highest-ever quarterly revenue of ₹13,000 crore for the first quarter as demand for travel returned and airlines raised fares. But high ATF prices as well as a depreciating rupee led the carrier into reporting a net loss of ₹1,064 crore.

The airline saw passenger numbers more than triple while total income surged more than fourfold to ₹13,018 crore, including revenue from tickets which grew more than fourfold to to ₹11,466 crore in the first quarter of FY23 over the year-earlier period.

Total expenses for the quarter more than doubled to ₹14,083 crore with fuel costs increasing almost fivefold.

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