USNMix Report: IndiGo earned 191 crores net profits
during the December quarter
during the December quarter
In terms of market share,
IndiGo, the country's largest airline, has achieved a net profit of 190.90 crore
in the October-December quarter.
In terms of market share,
IndiGo, the country's largest airline, has achieved a net profit of 190.90
crore in the October-December quarter. However, it is 75% less than the same
period of 2017. At that time the airline had a profit of Rs 762 crore. Indigo
airline's profits declined due to the low cost of air fuels and the fall in
rupees against the dollar.
The company said that in the
third quarter of the current financial year, its total revenue increased by
29.40 per cent to Rs 8,229.37 crore from Rs 6,408.95 crore. In this, the
revenue of Rs 7,916.22 crore was from operation. The company said that the
number of aircraft in its fleet was 153 on December 31, 2017, which increased
to 208 on December 31, 2018.
Profit Before Tax (PBT)
margin decreased to 2.4%. It was 17.3% in the October-December quarter of 2017. EBIT margin dropped from 32.4% to 21.2%. Airline debt increased by 1.8% to Rs
14,136.10 crore in the December quarter of 2018. The debt in the December
quarter of 2017 was Rs 13,887.40 crore. Indigo said in the BSE filing that the
on-time performance of the December quarter was 79.1% and the rate of flight
cancellation was 0.45%.
Interim Chief Executive
Officer Rahul Bhatia, reacting to the results said that under difficult
circumstances, we have made a profit of Rs. 190 crores. Our fleet has increased
by 33 percent in passenger capacity during the quarter by increasing an
aircraft every week. We are moving forward towards sustainable development and
sustainable profits in the future.
Comments
Post a Comment