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By Yi Wei Wong
InterGlobe Aviation Ltd. reported a wider net loss in its fourth quarter as revenue plunged amid the Covid-19 pandemic.
The Indian airline’s net loss widened to 11.47 billion rupees ($156.8 million) in the quarter ended March, compared with INR8.71 billion net loss in the same period a year earlier, it said Saturday.
Revenue fell to INR62.23 billion in the quarter from INR82.99 billion a year earlier.
For the fiscal-year ended March, the airline’s net loss widened to INR58.06 billion, compared with a net loss of INR2.34 billion in the prior year. Revenue declined 59% to INR146.41 billion for the fiscal, it said.
“This has been a very difficult year with our revenues slumping hard due to Covid, showing some signs of recovery during the period December to February and then slumping again with the second wave of the Covid,” CEO Ronojoy Dutta said.
Write to Yi Wei Wong at yiwei.wong@wsj.com
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