INDIGO PROFIT RISES 294% TO ₹551 CR DURING JULYSEPT
NEW DELHI: Budget carrier IndiGo’s parent InterGlobe Aviation on Tuesday reported a 294% increase in its net profit to ₹551.55 crore, the airline told BSE after market hours. It reported a net profit of ₹139.85 crore in the year-ago period.
InterGlobe reported its best ever September-quarter profit usually a weak period for airlines in the country due to fewer holidays falling in that time.
Total revenue rose 27.2% at ₹5,505.56 crore over same time last year (₹4,166.93 crore).
IndiGo has about 38% of the domestic aviation market with about 141 planes and 913 daily flights.
Share of IndiGo rose 1.59% on BSE on Tuesday to end trading at ₹1,244.30 on a day the benchmark Sensex fell 0.16% to close at 33,213.13 points.
Jet Airways (India) Ltd and SpiceJet Ltd are expected to announce their results in the next few weeks.
The company said its revenue per available seat kilometre - a measure of its operating earnings — rose about 13% to ₹3.52. Passenger yields, which measure the average fare paid per mile per customer, climbed 9 percent.
In July, InterGlobe Aviation warned that delays in deliveries of Airbus’ A320neo aircraft, due to issues with the new Geared Turbofan (GTF) engines, were affecting margins, adding it was having to lease planes to make up the shortfall.
Earlier in October a source told Reuters that Pratt & Whitney, which makes the GTF engines, was close to coming up with a fix for those problems.
IndiGo and privately-owned GoAir are among the biggest customers for the A320neo planes, owning about 30 between them with around 500 on order.