India’s biggest airline IndiGo and largest hotel company Indian Hotels Company (IHCL) announced their financial results for the second quarter on Tuesday. However, they reported vastly different outcomes.
IHCL reported what it called its “14th best-ever quarter” with a 12% increase in revenue, and a 15% increase in profit after tax at INR 2.9 billion ($32 million). IndiGo reported a loss of INR 25.8 billion ($291 million), which it largely attributed to the depreciation of rupee.
Yet both companies continue to expand across India and abroad.
IndiGo’s network now spans 94 destinations, including new flights from Hindon airport in Ghaziabad to further strengthen its hold in the Delhi and surrounding region.
IndiGo also became the first airline to resume operations on the India-China route last month with the launch of Kolkata-Guangzhou service. Delhi-Guangzhou route is expected to commence next week and CEO Pieter Elbers sai