InterGlobe Aviation Limited, the company that runs the domestic airline IndiGo, reported its best ever quarterly earnings since listing. On Friday, it posted a net profit of Rs 1,203 crore for the June-ended quarter, which is a massive increase of 43 times the profit of Rs 27.8 crore posted in the same period of the previous year.
The airlines' revenue from operations was 44.7 percent higher at Rs 9,420.10 crore. It was supported by an increase in capacity by 30.3 percent.
CEO Ronojoy Dutta informed that it was InterGlobe Aviation's highest ever profit.
"Strong passenger revenue along with a sharp improvement in cargo performance were key drivers to this improved profitability. We are particularly pleased with this quarter because it demonstrated our ability to grow rapidly while expanding our margin performance," he added.
Its passenger ticket revenue rose by 46.4 percent to Rs 8,445.10 crore for the quarter under review and its ancillary revenue increased by 32.2 percent when compared to the same period last year.
Its total cash balance as of 30 June stood at Rs 17,337 crore, which includes Rs 7,697 crore in free cash and Rs 9,640 crore in restricted cash. Its total debt stood at Rs 18,430 crore.
On promoter dispute, the company said, "The company has received letters from the Securities and Exchange Board of India ("SEBI") and from the Ministry of Corporate Affairs ("MCA") wherein they have requested for the Company's comments in relation to the complaints filed by one of the Promoters of the Company, with them. The Company will be responding to concerned authorities within the prescribed timelines and believes that aforesaid matter does not impact the financial results of the company."
For the second quarter of the financial year, the company expects a 28 percent increase in capacity. Further, it sees a capacity increase of 30 percent for the whole year.