IndiGo Q4 profit plunges 73% on higher expenses at Rs 1.18 billion

Revenue from operations rose about 20% to Rs 57.99 billion

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InterGlobe Aviation Ltd, which runs top Indian airline IndiGo, posted a 73.3 per cent fall in March quarter profit on Wednesday, hurt by higher expenses.

The company had a total comprehensive income of Rs 4.39 billion in the year-ago period, according to a regulatory filing. These figures are on a standalone basis.

In the fourth quarter of 2017-18 , the firm had a higher total income of Rs 60.56 billion compared to Rs 51.41 billion in the same period a year ago.

However, fuel expenses shot up to Rs 23.37 billion in the latest quarter under review from Rs 17.50 billion in the year-ago period.

For the year ended March 2018, the company’s total comprehensive income jumped to Rs 22.42 billion from Rs 16.56 billion in 2016-17.

In the last fiscal, the total income stood at Rs 239.67 billion compared to Rs 193.69. billion in the same period a year ago. These numbers are on a consolidated basis.

“We have reported our highest ever annual profits for fiscal 2018.

“We continue to execute on our growth plans and are putting in place the management team to execute our plans,” IndiGo Co-Founder and interim CEO Rahul Bhatia said.

Source business-standard.com
Via business-standard.com

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