Mumbai, Oct 24 (SocialNews.XYZ) India's largest private airline IndiGo reported a consolidated loss of Rs 1,062 crore for the quarter-ended September due to surge in expenditure.
InterGlobe Aviation, the parent company of the airline, suffered 63 per cent year-on-year (YoY) loss of Rs 1,061.9 crore against Rs 651.5 crore reported during the second quarter of the financial year 2018-19.
The company incurred the loss during the quarter under review due to 27.6 per cent rise in expenditure to Rs 9,571.6 crore. Supplementary rental and maintenance cost, depreciation and amortisation expenses were among the expenses that witnessed major increase.
Its total consolidated revenue for the period under review was Rs 8,539.7 crore, higher by 31 per cent from Rs 6,514.08 crore reported during the July-September quarter of FY19.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz