IndiGo sees high increase in net profit for the fourth quarter

29 May 2019

IndiGo sees high increase in net profit for the fourth quarter

IndiGo sees high increase in net profit for the fourth quarterInterGlobe Aviation Ltd., the operator of IndiGo airlines said its profit for the fourth quarter (January to March 2019) showed an increase of 400% more than last year. It posted a profit of ₹589.6 crore for the January-March quarter, compared to ₹117.6 crore profit in the same period last year.

15.7 million domestic passengers took IndiGo flights during this quarter compared to 13.4 million last year.
 	The stoppage of Jet Airways'flights has benefited IndiGo.
 	However, it said that its annual profit for the year overall has fallen by 93%. Last year the profit was ₹2,242.4 crore but this year it was only ₹156.1 crore.
 	IndiGo CEO (Chief Executive Officer) Ronojoy Dutta said that the reason for the low profit this year was because of high fuel prices, weak rupee and intense competitive environment.

However, he is positive that IndiGo’s network will continue to grow. Where some of the other airlines are facing a financial crisis and not able to sustain, Indigo has still managed to be profitable.

Images Credit: Wikimedia Commons

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