IndiGo Q4 profit jumps five-folds to Rs 589.6 crore; total income rises by 35.5% to Rs 8,259.8 crore

New Delhi: InterGlobe Aviation, the parent company of IndiGo airline, Monday reported a five-fold jump in profit after tax to Rs 589.6 crore for the January-March quarter compared to Rs 117.6 crore in the corresponding period of 2017-18. The carrier’s total income rose by 35.5 percent to Rs 8,259.8 crore in the quarter ended March 2019 compared to Rs 6,097.7 crore in the year-ago period, the company said in a statement. [caption id=“attachment_5506871” align=“alignleft” width=“380”] Representational image. Reuters[/caption] The low-cost carrier said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 percent less than Rs 2,242.4 crore for the 2017-18 fiscal. IndiGo CEO Ronojoy Dutta said, “Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intensely competitive environment.” “However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery,” he added. Dutta added that he is bullish about the future and sees plenty of opportunities for profitable growth in IndiGo’s network. The total debt as of 31 March, 2019, was Rs 2,429.2 crore, which was “aircraft-related”, said the airline.