Indigo reported a net loss at Rs. 871 crore in its Q4 results

On Tuesday, the airline company, Indigo reported a net loss of Rs. 871 crore in its fourth-quarter ended in March. The company’s faced a drop compared to profits last year because of weak operating performance.

Further, the airline company declared its consolidated net loss against the net profit of Rs 596 in the same quarter last fiscal. In addition, the total loss in the full fiscal year was reported at Rs 234 crore. Moreover, this was in comparison to a net profit of Rs 157 crore last year.

Additionally, the company’s revenue in the Jan-March quarter in FY19 was at Rs. 8,260 crore. However, the airline posted growth in its revenue for the fourth quarter in 2020 by 4.5 percent to Rs. 8,635 crore.

Earlier, the government permitted the domestic airlines to resume operations from May 25. This move resulted in aviation stocks to increase in the stock market. On Wednesday’s trading session the shares of Indigo surged by 14 percent in the early trade.

At 1.32 IST, the airline stocks were trading on the green side at 1,021.95, up 8.08 percent.

 

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time