IndiGo parent InterGlobe Aviation's Q3 net profit falls 75% to Rs 191 cr on high fuel prices, currency depreciation

New Delhi: InterGlobe Aviation, parent of IndiGo, on Wednesday reported a 75 percent fall in profit after tax at Rs 190.9 crore in the December quarter as high fuel prices and currency depreciation adversely impacted the bottomline. The airline had a profit after tax of Rs 762 crore in the corresponding period of 2017-18. According to a release, the carrier’s total income rose over 28 percent to Rs 8,229.4 crore in the three months ended December 2018. [caption id=“attachment_5506871” align=“alignleft” width=“380”] IndiGo Airlines aircraft. Reuters[/caption] In the year-ago period, the same stood at Rs 6,409 crore. “Profitability was adversely impacted by high fuel prices and currency depreciation,” the airline said in a presentation to analysts and institutional investors. IndiGo’s co-founder and interim CEO Rahul Bhatia said the airline posted a profit of Rs 1.9 billion in a continued difficult environment and have grown its fleet by one aircraft a week for a 33 percent capacity increase for the December quarter. “Very few airlines around the world have the operational resilience to absorb such rapid growth and I want to thank all our employees for being up for this challenge. Just as importantly, we find that the markets we serve are responding very positively to this new capacity,” he said. Shares of IndiGo settled at Rs 1,107.95 apiece, down 0.89 percent on the BSE.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.