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