Missing Street estimates, India's largest airline IndiGo posted a consolidated net loss of ₹986.7 crore for the second quarter of the 2024-25 financial year, driven by rising fuel costs, increased airport charges, higher aircraft lease expenses, grounded planes, seasonal downturn, and lower yields in the international market.
This loss marks the first time in seven quarters that IndiGo has slipped into the red, with the airline last reporting a net loss of ₹1,583.3 crore in the second quarter of 2022-23.
A Bloomberg survey of brokerages had forecast an average profit of ₹134 crore for a quarter that usually sees seasonally tepid demand.
IndiGo's Chief Financial Officer, Gaurav Negi, in a call with investors, noted that aircraft groundings peaked in the "mid-70s" during the September quarter, although these numbers are beginning to decline, with grounded planes expected to drop to the "up-60s (between 60 and 65)" by the end of 2024, and further to the "40s" by early next financial year.
هذه القصة مأخوذة من طبعة October 26, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 26, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Changes in policy terms must be conveyed
Mustafa Pithawala had taken a home loan of ₹20,11,101 from Tata Capital Housing Finance on October 19, 2015. To secure its repayment, he was covered under ICICI Lombard Group Secure Mind Policy, valid from October 23, 2015, to October 22, 2020. This policy also covered personal accident and major medical illnesses and procedures such as coronary artery bypass graft surgery (CABG).
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SCENT OF A MAN
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