New Delhi: The combined effect of Jet Airways ceasing operations and enhanced revenue measures undertaken internally has helped IndiGo Airlines report its highest-ever profit after tax (PAT) of ₹1203.01 crore for the quarter ended June 30.
This is a jump over the ₹27.8-crore PAT reported in the last quarter.
“We continue to see a base increase of 5 per cent in our unit revenue due to these initiatives. Cessation of services by Jet Airways positively impacted our profits, helping our unit revenues to grow by 2-3 per cent, to the best of our estimates. This quarter also saw a high percentage of bookings in the 0-15 days window,” Ronojoy Dutta, CEO, IndiGo said in an analysts’ call.
Cargo revenue increased 35 per cent, also helped partially by cessation of Jet’s services.
Wolfgang Prock-Schauer, President and COO, IndiGo said that the airline has got about 30 per cent of the slots (previously operated by Jet Airways). “We would have expected more as our market share is 50 per cent. But that is where we stand at this point in time,” he said. Revenue from operations for the quarter stood at ₹9,420.1 crore, up 44.7 per cent.
Rohit Philip, CFO, IndiGo said that employee costs this quarter were higher. “We gave salary increments to all employees. We have hired a large number of pilots who are currently undergoing training,” he said.
19/07/19 Business Line
To Read the News in full at Source, Click the Headline
This is a jump over the ₹27.8-crore PAT reported in the last quarter.
“We continue to see a base increase of 5 per cent in our unit revenue due to these initiatives. Cessation of services by Jet Airways positively impacted our profits, helping our unit revenues to grow by 2-3 per cent, to the best of our estimates. This quarter also saw a high percentage of bookings in the 0-15 days window,” Ronojoy Dutta, CEO, IndiGo said in an analysts’ call.
Cargo revenue increased 35 per cent, also helped partially by cessation of Jet’s services.
Wolfgang Prock-Schauer, President and COO, IndiGo said that the airline has got about 30 per cent of the slots (previously operated by Jet Airways). “We would have expected more as our market share is 50 per cent. But that is where we stand at this point in time,” he said. Revenue from operations for the quarter stood at ₹9,420.1 crore, up 44.7 per cent.
Rohit Philip, CFO, IndiGo said that employee costs this quarter were higher. “We gave salary increments to all employees. We have hired a large number of pilots who are currently undergoing training,” he said.
19/07/19 Business Line
0 comments:
Post a Comment