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Q4 Results: IndiGo reports over 400% profit rise to Rs 590 crore
IndiGo, run by InterGlobe Aviation, on Monday reported 401 per cent surge in profit at Rs 589.60 crore for March quarter compared with Rs Rs 117.60 crore in the same quarter last year.
IndiGo, run by InterGlobe Aviation, on Monday reported 401 per cent surge in profit at Rs 589.60 crore for March quarter compared with Rs Rs 117.60 crore in the same quarter last year. While revenue from operations surged 35.9 per cent to Rs 788.33 crore. CEO of the company, Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense 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.''
"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," he added.
Margins for the quarter stood at 27.8 per cent against 19.5 per cent in the year-ago period. The board of the company has announced a dividend of Rs 5 per share subject to shareholders' approval
The shares of Indigo closed at Rs 1,666.60, with 44.85 points or 2.77% gains on Monday.
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