InterGlobe Aviation, the operator of India's leading budget airlines IndiGo, reported a 401.2 percent increase in its quarterly profit for March 2019 at Rs 589.6 crore from Rs 117.6 crore in the same period, last year.
While the profits in March 2018 were greatly affected by high fuel prices that form a significant part of operating expenses, the suspension of services by Jet Airways helped IndiGo's growth in the fourth quarter of 2018-19.
Revenues rose by 35.9 percent to Rs 7,883.3 crore in the quarter under review as against Rs 5,799.1 crore in the corresponding period. Its EBITDAR (earnings before interest, tax, depreciation, amortisation and rent) grew by 93.7 percent to Rs 2,192.6 crore in March 2019 as against Rs 1,1,32.1 crore last year. The margin increased to 27.8 percent from 19.4 percent.
For the whole of FY19, profits fell by 93 percent to Rs 156.1 crore while revenue increased 23.8 percent to Rs 28,496.8 crore.
In its filing, InterGlobe said, it has a strong balance sheet with total cash of Rs 15,308.1 crore, including free cash of Rs 6,079.6 crore. It further added that the total debt as of March 2019 was Rs 2,429.2 crore and entire debt for IndiGo is aircraft related.
The company also announced a dividend pay of Rs 5 per share.
Shares of InterGlobe Aviation closed 2.77 percent higher at Rs 1,666.60 on Monday. Results were announced after market closing.