Flying High! IndiGo parent’s net profit soars 168 per cent to Rs 495.97 crore in Q3
InterGlobe Aviation, the parent company of low-cost carrier IndiGo, posted a 167.9% year-on-year jump in its net profit to Rs 495.97 crore for the December quarter, boosted by a 25.5% growth in operating revenue at Rs 9,931.68 crore. Revenues rose at a faster pace than capacity growth, the management said. The airline revised its capacity guidance for financial year 2021 downwards 20% from 25% earlier due to slowdown in aircraft addition.
Capacity for the quarter (measured in available seat km) rose 19.3% Y-o-Y to 2,580 crore. The management expects capacity increase of 20% during the fourth quarter and 23% for the full FY20. “Aircraft utilisation has been held back lately due to pilots in training as well as the numerous engine changes. But come June of 2020, we will be in a position to increase aircraft utilisation,” Ronojoy Dutta, CEO, InterGlobe Aviation, told analysts on a conference call.
