💨 Abstract

IndiGo, India's leading airline, reported an 18.6% drop in Q3 profit due to foreign exchange losses and higher rental costs, despite lower fuel costs and steady air travel demand. The rupee's devaluation increased foreign exchange losses by 29-fold, pushing overall expenses up by 20%. Excluding these losses, profit rose 26%.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖