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Higher income helps InterGlobe Aviation net soar to Rs 496 crore

The airline revised its capacity guidance for financial year 2021 downwards 20 per cent from 25 per cent earlier due to slowdown in aircraft addition.

By: ENS Economic Bureau | Mumbai | Updated: January 28, 2020 4:22:30 am
InterGlobe Aviation, InterGlobe Aviation Q3 profit, InterGlobe Aviation revenue, IndiGo, IndiGo profit, IndiGo flights, IndiGo quarterly profit, indian express Operating revenues were boosted by a 29 per cent growth rate in ancillary revenues, against a capacity growth rate of 19 per cent. (Representational)

InterGlobe Aviation, the parent company of low-cost carrier IndiGo, posted a 167.9 per cent year-on-year jump in its net profit to Rs 495.97 crore for the December quarter, boosted by a 25.5 per cent growth in operating revenue at Rs 9,931.68 crore. Revenues rose at a faster pace than capacity growth, the management said. The airline revised its capacity guidance for financial year 2021 downwards 20 per cent from 25 per cent earlier due to slowdown in aircraft addition.

Capacity for the quarter (measured in available seat km) rose 19.3 per cent Y-o-Y to 2,580 crore. The management expects capacity increase of 20 per cent during the fourth quarter and 23 per cent for the full FY20. “Aircraft utilisation has been held back lately due to pilots in training as well as the numerous engine changes. But come June of 2020, we will be in a position to increase aircraft utilisation,” Ronojoy Dutta, CEO, InterGlobe Aviation, told analysts on a conference call.

Meanwhile, Dutta was redesignated the company’s whole-time director and CEO.

Operating revenues were boosted by a 29 per cent growth rate in ancillary revenues, against a capacity growth rate of 19 per cent. —FE with PTI

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