Saturday, October 21, 2017, 1:38 am

IndiGo’s Q3 profit drops 25% due to higher oil prices

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MUMBAI: Budget passenger carrier IndiGo on Tuesday reported a decline of 25.1 per cent in net profit for the quarter ended December 31.

According to the airline, the net profit during the quarter fell to Rs 487.25 crore from Rs 650.34 crore in the like period last fiscal.

“We have reported yet another profitable quarter despite lower yields and higher fuel prices,” Aditya Ghosh, President and Director of IndiGo, said in a statement.

“We see robust traffic growth ahead and we will continue to grow and strengthen our network with a view to maximizing our long term profitability.”

The low-cost carrier’s total income from operations, including other operating income, grew 16 per cent to Rs 4,986.49 crore, from Rs 4,297.75 crore reported in the corresponding quarter of 2015-16.

IndiGo’s total revenue, including other income, rose by 16.8 per cent to Rs 5,158.42 crore from Rs 4,418.12 crore.

“As of December 31, IndiGo had a total cash balance of Rs 84,550 million comprising Rs 37,865 million of free cash and Rs 46,685 million of restricted cash,” the statement said.

“The total debt as on December 31 was Rs 27,466 million. The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt.”

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