July 29, 2020 / 10:32 AM / 15 days ago

IndiGo parent Interglobe posts quarterly loss as pandemic grounds planes

BENGALURU, July 29 (Reuters) - 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

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