InterGlobe Aviation Ltd, owner of low-cost IndiGo airlines, posted a net profit of Rs 589.6 crore for the fourth quarter ended March 31, 2019 as against Rs 117.6 crore in the same period FY18.
Analysts expected a strong quarter for IndiGo as a lot of business moved from the grounded Jet Airways to other airlines, including IndiGo.
Passengers paid nearly 14 percent more for flights on the airline resulting in better yields for the airline. IndiGo said its yield per kilometre for the fourth quarter rose 12 percent, at Rs 3.70 per km as against Rs 3.31 in the March quarter of FY18.
The airline said its revenues for the given quarter went up by 35.9 percent, at Rs 7,883.3 crore.
CEO Ronojoy Datta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment. 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 sharprecovery. Looking ahead, it is difficult not to be bullish about the future. We see plenty of opportunities for profitable growth in our network and with a robust delivery stream of new aircraft, we are well positioned to capitalise on this growth."
28/05/19 CNBC-TV18
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Analysts expected a strong quarter for IndiGo as a lot of business moved from the grounded Jet Airways to other airlines, including IndiGo.
Passengers paid nearly 14 percent more for flights on the airline resulting in better yields for the airline. IndiGo said its yield per kilometre for the fourth quarter rose 12 percent, at Rs 3.70 per km as against Rs 3.31 in the March quarter of FY18.
The airline said its revenues for the given quarter went up by 35.9 percent, at Rs 7,883.3 crore.
CEO Ronojoy Datta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment. 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 sharprecovery. Looking ahead, it is difficult not to be bullish about the future. We see plenty of opportunities for profitable growth in our network and with a robust delivery stream of new aircraft, we are well positioned to capitalise on this growth."
28/05/19 CNBC-TV18
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