IndiGo’s Net Profit Slips 11.7% To Rs 2,727 Cr In Q1
The company also reported a foreign exchange loss of Rs 57.5 crore in the quarter, compared with a gain of Rs 116 crore a year earlier
IndiGo operator Interglobe Aviation reported a first-quarter profit on Friday that fell 11.7 per cent as higher expenses overshadowed strong air travel demand.
India's largest airline by market share posted a profit of Rs 2,727 crore for the three months ending 30 June, compared with Rs 3,087 crore a year earlier.
Costs for Indian airlines are expected to rise 3.8 per cent in fiscal 2025, a top aviation consultancy said last month.
IndiGo's total expenses in the first quarter rose about 24 per cent to Rs 17,449 crore, with aircraft fuel expenses accounting for about 37 per cent of the costs. Its aircraft rental costs more than tripled.
The company also reported a foreign exchange loss of Rs 57.5 crore in the quarter, compared with a gain of Rs 116 crore a year earlier.
IndiGo's revenue from operations rose 17.3 per cent to Rs 19,571 crore.
Available seat kilometres, a measure of the airline's passenger carrying capacity, rose 11.1 per cent, compared with a company-provided estimate of 10-12 per cent growth.
The low-cost carrier forecasts high single-digit percentage growth for capacity in the second quarter.
