Mumbai, October 24: IndiGo suffered a loss of Rs 652.10 crore for the quarter ended September 30 due to higher fuel prices and currency depreciation. InterGlobe Aviation, owner of the airline informed about the loss on Wednesday. Meanwhile, the company had posted a net profit of Rs 551.60 crore. in the corresponding quarter, last year. Till Now, IndiGo was the only consistently profitable airline in India.

According to a report published in The Times of India, the expense on Aviation turbine fuel (ATF) in the country rose to Rs 3,035.5 crore in the July-September, 2018, which was 84 percent high as compared to the same quarter last year. Harrowing Time for Passengers on IndiGo Lucknow-Mumbai Flight Due to Snag

The company also held the depreciation in the rupee as another reason for the loss. The company’s co-founder and interim CEO, Rahul Bhatia said that aviation in India is facing significant pressures from high fuel costs, rupee depreciation and intense competition, all of which have impacted our profitability this quarter. IndiGo to Pay Rs. 20,000 Compensation to Passengers for Leaving Them Behind at Kolkata Airport

According to the Economic Times, the total debt of the company as on September 30, came in at Rs 2,641.10 crore. The company also paid Rs 7,502.30 crore as a tax in the second quarter, which is 58.20 percent more than the same quarter last year. Meanwhile, the share price of the airline witnessed a hike of 0.80 percent and closed at Rs 817.10.

(The above story first appeared on LatestLY on Oct 24, 2018 08:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).