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Markets News

IndiGo parent Interglobe posts quarterly loss as costs rise, pandemic hits

BENGALURU, June 2 (Reuters) - Interglobe Aviation Ltd , which runs India’s largest airline Indigo, reported a quarterly loss on Tuesday as its expenses rose and the COVID-19 pandemic hit operations.

The company reported here a net loss of 8.73 billion Indian rupees ($116.19 million) for the fourth quarter ended March 31, compared to a profit of 5.90 billion rupees a year earlier.

Revenue from operations rose 5.3% to 82.99 billion rupees. ($1 = 75.1355 Indian rupees) (Reporting by Derek Francis in Bengaluru; Editing by Vinay Dwivedi)

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