IndiGo's Q4 net profit soars 401%

Mumbai, May 27 (IANS) Budget passenger carrier IndiGo on Monday reported a rise of 401.2 per cent in its net profit for the fourth quarter of 2018-19.According to the airline, its net profit increased to Rs 589.6 crore in the three months ended March 2019, from Rs 117.6 crore in the same period a year ago.The company's revenue from operations grew 35.9 per cent to Rs 7,883.3 crore in the last quarter, compared with Rs 5,799.1 crore registered in the same period a year ago.However, for the entire fiscal 2018-19, IndiGo's net profit declined 93 per cent
to Rs 156.1 crore, from Rs 2,242.4 crore in the 2017-18."Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment," IndiGo's CEO Ronojoy Dutta said in a statement."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. We see plenty of opportunities for profitable growth in our network and with a robust delivery stream of new aircraft, we are well positioned to capitalise on this growth."As of March 31, 2019, Indigo's fleet consisted of 217 aircraft, including 130 A320neos, 71 A320neos, 1 A321neo and 15 ATRs.
--IANS rv/sn/bc