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Published on 29/07/2020 4:11:41 PM | Source: Reuters

IndiGo parent Interglobe posts quarterly loss as pandemic grounds planes

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BENGALURU - Interglobe Aviation Ltd, which runs India's largest airline Indigo, reported its steepest quarterly loss in at least five years on Wednesday as travel restrictions due to the COVID-19 pandemic hit its operations.

The company clocked a net loss of 28.49 billion rupees($381.31 million) for the first quarter ended June 30, compared with a profit of 12 billion rupees a year earlier.

Revenue from operations plunged 92% to 7.67 billion rupees.

($1 = 74.7160 Indian rupees)

(Reporting by Chandini Monnappa in Bengaluru; Editing by Aditya Soni)