IndiGo reports highest ever quarterly profit in Q1

InterGlobe Aviation on Friday reported its highest-ever quarterly profit at `1,203 crore in the April-June quarter – a surge of 42 times compared to Q1FY19 – due to higher passenger revenues aided by complete grounding of Jet Airways.

While revenue from operations jumped 44.6% to `9,420 crore, operating margins or the ebitdar (earnings before interest, tax, depreciation, amortisation and rentals) was up 12.1 bps y-o-y to 29.5%.

Full-service carrier Jet terminated all operations on April 17 due to financial crisis, leading to 15% y-o-y fall in overall domestic capacities. According to the analysts, average domestic fares went up 25-30% y-o-y during Q1FY20.