Interglobe Aviation, which controls the country’s biggest airline by market share, IndiGo Airlines, on Friday reported a 0.34% y-o-y increase in net profit to Rs 579.3 crore during the January-March quarter. Revenues during the period increased 7.5% at Rs 4,247.5 crore.
For the full fiscal year (FY16) Indigo witnessed a 52.6% increase in its net profit to Rs 1,989.7 crore.
This is the second time the company has reported its quarterly earnings after being listed on the stock exchanges in October.
Fuel cost which traditionally comprises 40–50% of the total expenses of the airline, decreased by 14.7% y-o-y to Rs 1,023.6 crore during the quarter due to the lower crude prices in the international market.
The airline reported a 9.84% y-o-y increase in the EBITDAR to Rs 1,548 crore compared to Rs 1,409.3 crore in the corresponding quarter in FY15. The board of directors have recommended a final dividend of Rs 15 per share.
The revenue per available seat kilometer (RASK) for the quarter decreased by 9.5% y-o-y to Rs 3.64 when compared to Rs 4.02. During the quarter the company increased its fleet size to 107 and its average fleet age stood at 4.6 years.
Indigo also commenced operations to new destinations like Dehradun, in total providing connectivity to 35 destinations in the domestic market.The company received three A320 Neo’s in March 2016 and plans to increase its fleet size to a total of 136 air crafts by the end of FY17.
During the January – March period Indigo carried approximately 85.03 lakh passengers and its market share in the domestic market stood at 37%.
The passenger load factor (PLF) which is indicator of an airline’s efficiency in operations stood at 85.1% for the month of March, which was the third best in the market during the month.