InterGlobe Aviation shares tumble 7% after company posts net loss of Rs 1,062 cr for September quarter

New Delhi: Shares of budget carrier IndiGo’s parent InterGlobe Aviation on Friday tumbled 7 percent after the company posted a net loss of Rs 1,062 crore for the September quarter. [caption id=“attachment_5335881” align=“alignleft” width=“380”] Representational image. Reuters[/caption] On the BSE, it dropped 6.98 percent to Rs 1,550. On the NSE, the company’s scrip tumbled 6.84 percent to Rs 1,551. After the market hours on Thursday, InterGlobe Aviation 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 percent 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. The results come against the backdrop of an escalating tussle between IndiGo co-founders and top two shareholders Rakesh Gangwal and Rahul Bhatia over corporate governance issues and future strategy.