IndiGo Battles Turbulence: Fuel Costs and Grounded Planes Impact Profits

IndiGo, India's largest airline, reported a significant net loss of Rs 986.7 crore for the September quarter, affected by grounded planes and increased fuel costs. Despite this, the airline saw a 14.6% growth in revenue. CEO Pieter Elbers highlighted a reduction in grounded aircraft as a positive development.

India's largest airline, IndiGo, has reported a substantial net loss of Rs 986.7 crore for the quarter ending in September, primarily due to grounded aircraft and soaring fuel expenses.

In contrast to the Rs 188.9 crore profit recorded during the same period last year, the current figures mark a notable downturn.

However, IndiGo CEO Pieter Elbers remains optimistic, citing a 14.6% year-on-year revenue increase to Rs 17,800 crore, alongside reduced numbers of grounded aircraft, as encouraging signs of recovery.

(With inputs from agencies.)