IndiGo reports highest ever quarterly profit at Rs 1,203 crore in Q1FY20; key figures in nutshell

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Updated: Jul 19, 2019 4:52 PM

InterGlobe Aviation, the parent company that operates IndiGo, on Friday reported 27.8 per cent rise in net profit to Rs 1,203 in the first quarter of FY20 as against Rs 27.8 crore in the same period of the last fiscal.

IndiGo promoter, indigo feud, Rahul Bhatia, Rakesh Gangwal, InterGlobe Enterprises group, IGE GroupThe revenue rose over 44 per cent to Rs 9,420.1 in Q1 as against  Rs 6,512 in the corresponding period of the last quarter, the airline said in a regulatory filing.

InterGlobe Aviation, the parent company that operates IndiGo, on Friday reported 27.8 per cent rise in net profit to Rs 1,203 in the first quarter of FY20 as against Rs 27.8 crore in the same period of the last fiscal, benefiting from the collapse of Jet Airways, as more passengers chose to fly its low-cost carrier IndiGo.The IndiGo CEO Rono Dutta said that the company reported its highest ever quarterly profit in Q1FY20. The revenue rose over 44 per cent to Rs 9,420.1 in Q1 as against  Rs 6,512 in the corresponding period of the last quarter, the airline said in a regulatory filing. EBITDAR stood at Rs 2,779 crore in this quarter as compared to Rs 1,130 crore in FY19.

The yield surged 12.8 per cent at Rs 4.08 per km as against Rs 3.62 per km on a yearly basis, the company also said. For fiscal year 2020, year over year capacity increase in ASKs is expected to be 30 per cent. For second quarter fiscal year 2020, year over year capacity increase in ASKs is expected to be 28 per cent, it added.

The IndiGo promoters, Rahul Bhatia and Rakesh Gangwal, have recently entered into a dispute, leading to fall in the shares of company shares. The fight began when Gangwal, one of the co-founders, publicly accused, Rahul Bhatia, the other co-founder, of governance and business related violations.

IndiGo’s founders have recently been involved in an escalating dispute, dragging down the parent’s shares. IndiGo’s yield, a measure of the average passenger fare per mile, rose 12.8 per cent, reflecting the rising passenger preference for the airline, which is now India’s biggest by market share.

Interglobe shares closed 0.28 per cent higher on Friday amid a broader market that ended 1.53 per cent down.

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