MumbaI; If you thought operating a domestic airline was like putting money in a black hole, think again. At a time when the country’s aviation sector was in the red, the promoters and shareholders of the country’s largest low-cost carrier, IndiGo, raked in Rs 548 crore in dividend income in 2012-13, according to a filing with the Registrar of Companies (RoC).
IndiGo’s Rs 548-crore dividend payout accounts for almost 70 per cent of its net profit for the year. It paid a tax of Rs 89 crore on dividend distribution.
The key shareholders of the company include the Rahul Bhatia-controlled InterGlobe Enterprises and US-based Caelum Investment LLC, owned by a former chief executive of US Airways, Rakesh Gangwal. These together hold 99 per cent of the equity capital, which comprises 307,000 shares of a face value of Rs 1,000, in the airline.
The airline’s board had approved payment of interim dividend of Rs 12,612 a share, amounting to Rs 387 crore, last August. In December 2012, interim dividend of Rs 5,259 a share, amounting to Rs 161.5 crore, was issued. This amounted to a dividend of Rs 17,871 a share, totalling about Rs 548 crore.
16/11/13 Aneesh Phadnis/Business Standard
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IndiGo’s Rs 548-crore dividend payout accounts for almost 70 per cent of its net profit for the year. It paid a tax of Rs 89 crore on dividend distribution.
The key shareholders of the company include the Rahul Bhatia-controlled InterGlobe Enterprises and US-based Caelum Investment LLC, owned by a former chief executive of US Airways, Rakesh Gangwal. These together hold 99 per cent of the equity capital, which comprises 307,000 shares of a face value of Rs 1,000, in the airline.
The airline’s board had approved payment of interim dividend of Rs 12,612 a share, amounting to Rs 387 crore, last August. In December 2012, interim dividend of Rs 5,259 a share, amounting to Rs 161.5 crore, was issued. This amounted to a dividend of Rs 17,871 a share, totalling about Rs 548 crore.
16/11/13 Aneesh Phadnis/Business Standard
