Industry to suffer Rs 110-130 bn loss in FY2023 due to ATF price hike and depreciation in INR

Suprio Banerjee, Vice President & Sector Head – Corporate Ratings, ICRA said, The pace of recovery in industry earnings will be gradual owing to the high fixed cost nature of the business. The industry is estimated to report a net loss of around INR 110-130 billion in FY2023 due to elevated ATF prices twined with the depreciation of the INR against the USD.”