IndiGo has cited mixed market dynamics between the two halves of the year ended 30 March as it reported a Rs1.5 billion ($21.6 million) loss before tax.
The result is a contrast to the pre-tax profit of Rs31 billion for the previous year.
Revenue for the full year rose 24% to Rs298 billion, despite a 2% fall in RASK to Rs3.57 as ASKs increased 28%.
Total expenses, meanwhile, increased 44% to Rs300 billion, pushing CASK including fuel up 14% to Rs3.59.
Net profit slumped from Rs22.4 billion to Rs1.56 billion. Total cash at the end of March amounted to Rs153 billion, up from Rs137 billion at the same time last year.
“Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment,” says chief executive Ronojoy Dutta. “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.”
That recovery was evident in its results for the three months to 31 March as its pre-tax profit almost quadrupled to Rs6.17 billion, as revenue surged 36% to Rs82.6 billion.
28/05/19 Flight Global
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The result is a contrast to the pre-tax profit of Rs31 billion for the previous year.
Revenue for the full year rose 24% to Rs298 billion, despite a 2% fall in RASK to Rs3.57 as ASKs increased 28%.
Total expenses, meanwhile, increased 44% to Rs300 billion, pushing CASK including fuel up 14% to Rs3.59.
Net profit slumped from Rs22.4 billion to Rs1.56 billion. Total cash at the end of March amounted to Rs153 billion, up from Rs137 billion at the same time last year.
“Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment,” says chief executive Ronojoy Dutta. “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.”
That recovery was evident in its results for the three months to 31 March as its pre-tax profit almost quadrupled to Rs6.17 billion, as revenue surged 36% to Rs82.6 billion.
28/05/19 Flight Global
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