Aviation

IndiGo Q3 net at ₹657cr

DELHI

Low-cost carrier (LCC) IndiGo on Thursday reported a profit of Rs 657 crore in the quarter ended December 31, 2015, up 23.7% from Rs 531 crore in the corresponding period of the previous fiscal.

This is the highest ever quarterly profit by the decade-old IndiGo and first profit after going public last November. It is also the highest ever quarterly profit reported by any Indian carrier, reports The Times of India.

The IndiGo stock closed 0.3% lower at Rs 1,197 on the BSE on Thursday.

The total revenue in the third quarter was Rs 4,407 crore, up 12% from Rs 3,938 crore in the same period last fiscal. While passenger revenue rose 9.5%, the LCC saw its ancillary revenue rise by 27.1% in Q3 to Rs 514 crore. Ancillary revenue comes from items like charging for pre-booking of seats and food & beverages on-board.

IndiGo president Aditya Ghosh said: “Our business continues to perform well on the back of increase in fleet size, robust passenger demand and low fuel prices. Lower fuel prices enabled us to lower our fares, further stimulating market demand and increasing the propensity of people to travel.”

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