IndiGo Q4 profit jumps 5-folds to ?589.6 crore

indigo

New Delhi: InterGlobe Aviation, the parent company of IndiGo airline, Monday reported a five-fold jump in profit after tax to ?589.6 crore for the January-March quarter compared to ?117.6 crore in the corresponding period of 2017-18?.

The carrier’s total income rose by 35.5 per cent to ?8,259.8 crore in the quarter ended March 2019 compared to ?6,097.7 crore in the year-ago period, the company said in a statement.

The low-cost carrier said that its annual net profit for 2018-19 stood at ?156.1 crore, which was 93 per cent less than ?2,242.4 crore for the 2017-18 fiscal.

IndiGo CEO Ronojoy Dutta said, “Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment.”

“However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery,” he added.

Dutta added that he is bullish about the future and sees plenty of opportunities for profitable growth in IndiGo’s network.

The total debt as of March 31, 2019, was ?2,429.2 crore, which was “aircraft related”, said the airline.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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