Surging fuel costs lead to unexpected losses, Indigo Airlines' stock price falls.

India's largest airline, Indigo Airlines, suffered unexpected losses for the second consecutive quarter, with the main reason being the escalation of fuel expenses due to geopolitical conflicts. As a result, its stock price fell to a new low in over a month. The parent company of Indigo Airlines, InterGlobe Aviation Group, saw the biggest drop in stock prices in intraday trading on Friday, with a decrease of 2.74%, reaching its lowest point since June 18th. The airline announced on Thursday that it had a net loss of 2.38 billion rupees for the quarter ending on June 30th, while media analysts had previously predicted a profit of 14.3 billion rupees. The company's revenue for the quarter increased by 20% year-on-year, reaching 245.84 billion rupees, exceeding market expectations; however, total expenses soared by 34% to 258.5 billion rupees. Fuel costs account for about 40% of the airline's total costs, with a staggering 86% year-on-year increase this quarter; in addition, there was a forex loss of 825 million rupees.