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.

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

IndiGo Airlines aircraft. Reuters

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.

 

 

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Updated Date: Jan 23, 2019 18:58:58 IST

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