IndiGo Q4 profit jumps 5-folds to Rs 589.6 crore

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Published: May 27, 2019 4:57:55 PM

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

indigo, IndiGo Q4 profit, IndiGo profit, IndiGo airline, Ronojoy Dutta, industry newsThe carrier’s total income rose by 35.5 per cent to Rs 8,259.8 crore in the quarter ended March 2019. (Reuters)

InterGlobe Aviation, the parent company of IndiGo airline, Monday reported a five-fold jump in profit after tax to Rs 589.6 crore for the January-March quarter compared to Rs 117.6 crore in the corresponding period of 2017-18?. The carrier’s total income rose by 35.5 per cent to Rs 8,259.8 crore in the quarter ended March 2019 compared to Rs 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 Rs 156.1 crore, which was 93 per cent less than Rs 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 Rs 2,429.2 crore, which was “aircraft related”, said the airline.

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