This Article is From Jul 19, 2019

IndiGo Operator Interglobe Aviation Posts Profit Of Rs 1,200 Crore In June Quarter

IndiGo, now the largest airline in the country by market share, reported a 12.8 per cent rise in its yield during the quarter

IndiGo Operator Interglobe Aviation Posts Profit Of Rs 1,200 Crore In June Quarter
Bengaluru:

Interglobe Aviation Ltd, which operates the country's top airline IndiGo, on Friday reported its highest-ever quarterly profit after tax in the June quarter, as the collapse of Jet Airways diverted passengers to other low-cost carriers.

The company and its peer SpiceJet have both seen a surge in passenger growth, after Jet Airways, once the country's biggest private carrier, declared bankruptcy.

Interglobe said its net profit for the three months ended June 30 rose to over Rs 1,200 billion rupees ($174.29 million) from Rs 27.79 crore a year ago. Revenue rose 45 per cent to Rs 942 crore.

IndiGo's founders have recently been involved in an escalating dispute, dragging down the parent's shares.

IndiGo's yield, a measure of the average passenger fare per mile, rose 12.8 per cent, reflecting the rising passenger preference for the airline, which is now India's biggest by market share.

Interglobe shares closed 0.28 per cent higher on Friday amid a broader market that ended 1.53 per cent down.