As the economy opened and operations resumed partially, fuel price and other expenses were higher than the revenue the company was generating, resulting in losses for FY21 and FY22. The latest results — for Q1FY23 — showed a significant spike in revenue, at Rs 12,855 crore, which shows an increase in demand (QoQ basis). Profit after tax (PAT) for the quarter was still negative (it was -Rs 1,064 crore) as two major costs, an increase in fuel expense and foreign exchange loss, among others, have affected the profitability, even though revenue increased.
India top market for me, but regulatory red tape holding it back: Mark Mobius
Mark Mobius reaffirmed his bullish stance on Indian equities, despite geopolitical tensions with Pakistan. He criticized bureaucratic hurdles slowing foreign investments and urged investors to
May 15, 2025