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June 16, 2024
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UPDATE – Delhi-based low-cost airline IndiGo has reported a profit of Rs 8 billion excluding foreign exchange loss for its Q2 that ended in September. If the foreign exchange loss is included the net profit for the quarter ended stands at Rs 1.89 billion as against a loss of Rs 3.81 billion during the same quarter previously, the airline said in a filing to the stock exchange on Friday afternoon.

The Indian Rupee has seen a sharp decline in its value against most foreign currencies including the dollar. In July, 1 Indian Rupee traded at about Rs 82 to a dollar which went up to over Rs 83 in September.

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Ashwini Phadnis
Former Senior Deputy Editor at Business Line (aka The Hindu Business Line)