Thursday, January 21, 2016

Indigo posts 24% rise in Q3 profit at Rs.6,573-cr

India’s largest airline Indigo reported a 24 per cent increase in its third quarter profit on the back of rapid increase in passenger traffic and cost control efforts. 

The low-cost carrier reported net profit of Rs.6,573 crore compared to Rs.5,315 crore in the corresponding period last year. This is the first time Indigo has reported its financial results since it went public in November. Revenue for the third quarter grew 12 per cent to Rs.44,075 crore (Rs.39,388 crore). 

According to the DGCA, Indigo commanded a 35.9 per cent market share among domestic airlines, far ahead of the second largest airline Jet Airways, whose market share stood at 18.5 per cent for the quarter. 

During October-December, 2015, 8.33 million passengers flew Indigo compared with 6.53 million passengers in the same period last year.

Company’s expenses grew much slower compared to its profits and revenue. At Rs.34,746 crore, the expenses saw a 9.1 per cent increase since last year.  Indigo saw 3.4 per cent increase in its passenger load factor at 84.6 per cent. 

Indigo increased its fleet size to 100 aircrafts by the end of the quarter, with average age of an aircraft at 4.2 years. 

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