IndiGo earns 191 crores net profit

USNMix Report:  IndiGo earned 191 crores net profits 
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.