 "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.
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.
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