Stocks

InterGlobe Aviation shares tumble 7 per cent after Q2 earnings

PTI New Delhi | Updated on October 25, 2019 Published on October 25, 2019

File photo   -  Reuters

Shares of budget carrier IndiGo’s parent InterGlobe Aviation on Friday tumbled 7 per cent after the company posted a net loss of Rs 1,062 crore for the September quarter.

On the Bombay Stock Exchange (BSE), it dropped 6.98 per cent to Rs 1,550.

On the NSE, the company’s scrip tumbled 6.84 per cent to Rs 1,551.

After market hours on Thursday, the company posted a net loss of Rs 1,062 crore for the September quarter, mainly on account of higher costs related to operating lease liabilities.

The company had a loss of Rs 651.5 crore in the same period a year ago.

According to a release, InterGlobe Aviation’s total income rose 31 per cent to Rs 8,539.8 crore in the second quarter of the current fiscal.

In the year-ago period, the same stood at Rs 6,514.1 crore.

Published on October 25, 2019
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