Aviation major IndiGo's profit rises by five times; stands at Rs 590 cr in Q4
Gurugram, May 27 (UNI) Gaining benefit from the collapse of the Jet Airways, private airline IndiGo’s profit rose by more than five times at Rs 590 crore in the fourth quarter ended March 2019, the carrier announced on Monday.
The profit after tax (PAT) was calculated at Rs 118 crore in the same quarter, last year, the airline said after releasing its quarterly and fiscal year results here.
The airline’s revenue from operations increased by 35.9 per cent at Rs 78,833 million as against Rs 57,991 in the period last year.
Its EBITDAR also up by 27.8 per cent at Rs 21,926 million compared to Rs 11,321 million for the corresponding period last year.
IndiGo CEO Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment. However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery.
“Looking ahead, it is difficult not to be bullish about the future. We see plenty of opportunities for profitable growth in our network and with a robust delivery stream of new aircraft, we are well positioned to capitalize on this growth."
The airline have recommended a final dividend of Rs 5 a share (face value of Rs 10 per share) for the financial year ended March 31, 2019, subject to shareholders’ approval.
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