InterGlobe Aviation posts ₹2,537 cr March quarter loss, shares rally
IndiGo's parent company, InterGlobe Aviation, just posted a ₹2,537 crore loss for the March quarter, mostly because the rupee lost value against other currencies.
But investors didn't flinch: IndiGo's shares actually climbed 5% on Monday and traded at ₹4,528 by mid-morning.
Despite the financial setback, IndiGo's strong business performance kept confidence high.
IndiGo posts ₹22,438 cr revenue
Even with pricey fuel and global disruptions, IndiGo pulled in ₹22,438 crore in revenue last quarter and held onto its top spot in India's airline market.
The company is planning to invest $450 million in new aircraft engines and assets to boost growth.
Analysts say the forex losses are just a bump in the road. Thanks to rising travel demand and IndiGo's expanding international routes, they expect things to look up soon.