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The penalty arises from the customs authority’s denial of duty exemption on the import of aircraft parts. The company disclosed that it received the order on January 4, 2025, at its Gurgaon corporate office, a non-working day. Consequently, the disclosure was filed on the first working day, January 6, 2025.
“The order was received at the Company’s corporate office in Gurgaon on a non-working day i.e. Saturday, January 4, 2025. This disclosure is being filed on the first working day after receipt of the same,” it said in a regulatory filing.
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InterGlobe Aviation stated that it is in the process of contesting the order before the appropriate appellate authority. The company assured that the penalty would not have a material impact on its financials, operations, or other activities.
IndiGo slipped back into the red, reporting a net loss of ₹986.7 crore for the second quarter ended September 2024 (Q2 FY25), a stark decline from the ₹188.9 crore profit posted in the same quarter last year and significantly down from the ₹2,728.8 crore profit recorded in the preceding quarter (Q1 FY25). The loss reported was also considerably higher than the CNBC-TV18 poll forecast of ₹194.9 crore.
IndiGo’s revenue from operations grew 14% year-on-year to ₹16,970 crore, marginally surpassing the ₹16,790 crore estimated by analysts. However, revenue fell over 13% sequentially from ₹19,570.7 crore in Q1 FY25, impacted by seasonal weakness typical of the second quarter.
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Shares of Interglobe Aviation Ltd ended at ₹4,260.80, down by ₹201.40, or 4.51% on the BSE.
