IndiGo posts Rs 620 cr Q3 net loss

New Delhi: Budget carrier IndiGo on Thursday reported a net loss of Rs 620 crore for the third quarter ended December 2020. It had posted a net profit of Rs 496 crore in the same quarter of the previous fiscal.

In the June and September quarter this fiscal, the airline had incurred a net loss of Rs 2,884 crore and Rs 1,194 crore, respectively. The airline's total income declined 50 per cent year-on-year to Rs 5,142 crore in the third quarter, IndiGo said in a statement.

Its total expenses in the December quarter slipped 41 per cent to Rs 5,765 crore.

"The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery," IndiGo Chief Executive Officer Ronojoy Dutta said.

The airline is looking forward to a gradual resumption of scheduled international flights as increased aircraft utilisation is critical to its return to profitability, he added.