Tuesday, November 08, 2016

Interglobe Aviation Q2 net profit up 24% to Rs 139.8 crore

Interglobe Aviation has posted a 23. 6 percent rise in net profit at Rs 139.8 crore for the September quarter (Q2) on the back of a 17.7 percent rise in income from operations despite fuel expenses increasing 25 percent, year-on-year.
The company, which owns budget carrier IndiGo Airlines, had recorded net profit of Rs 113.1 crore for the corresponding quarter last year.
Income from operations rose to Rs 4,166.9 crore in Q2 from Rs 3,539.9 crore in the year-ago period, according to regulatory filings to the Bombay Stock Exchange (BSE) by the company on Tuesday after market hours. However, on a sequential basis, income from operations fell Rs 412 crore from Rs 4,578.8 crore in June quarter.
The share price of Interglobe Aviation closed 0.33 percent lower at Rs 924.50.
Finance costs declined 23.5 percent to Rs 61 crore in Q2 from Rs 79.7 crore in the corresponding quarter last year on account of a reduction in debt, the company said.
08/11/16 S V Krishnamachari/IBTimes