Aviation

InterGlobe Aviation Q3 net profit slumps to Rs 191 crore on costlier fuel, rupee depreciation

Updated : January 24, 2019 06:27 AM IST

InterGlobe Aviation, the parent company of IndiGo, on Wednesday reported a 75 percent fall in net profit at Rs 190.9 crore in the December quarter as higher fuel prices and rupee depreciation continued to hurt the company.

In the corresponding quarter last year, the company posted a net profit of Rs 762 crore.

Total income increased to Rs 7,916.2 crore for the quarter under review as against Rs 6,177.9 crore recorded during the same quarter of last year.

The earnings before interest, taxes, depreciation, amortisation and rentals fell 16 percent to Rs 1,681.4 crore against Rs 2,001 crore posted last year. The EBITDAR margin came in at 21.2 percent, down from 32.4 percent year-on-year.

The airline copany reported other income to the tune of Rs 313 crore against Rs 231 crore last year. Forex gains have also seen a rise to Rs 103.5 crore against Rs 80.3 crore last year.

Rahul Bhatia, interim chief executive officer and co-founder said, "We find that the markets we serve are responding very positively to this new capacity. That is evidenced by the fact that after continued weakness in October which pulled down our overall quarterly performance, our RASK numbers have improved in November and December. We are building a very strong platform for a sustainable future growth and profitability."

For the period October-December 2018, InterGlobe Aviation had a technical dispatch reliability of 99.87 percent, on-time performance of 79.1 percent at four key metros and flight cancellation rate of 0.45 percent, the company said.

InterGlobe Aviation Q3 net profit slumps to Rs 191 crore on costlier fuel, rupee depreciation

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