IA posts highest Q1 profit in five years

Indian Airlines on Tuesday claimed to have posted its highest profit in five years at Rs 28.45 crore in the first quarter of the current fiscal as against a figure of Rs 5.95 crore during the same period last year.

Profit has been achieved in the face of a massive hike in ATF prices, which continues to account for about 68 per cent of IA’s overall rise in expenditure. Maintaining that the net profit of Rs 28.45 crore in Q1 of this fiscal was the ‘‘highest in the last five years,’’ an IA spokesman said the airline saw an upsurge in passenger carriage — from about 1.8 million in last Q1 to almost two million this quarter.