Logistics

InterGlobe Aviation Q3 profit up 56% on higher ticket revenue

Reuters Jan 24 | Updated on January 24, 2018 Published on January 24, 2018

InterGlobe Aviation Ltd, the owner of the country's biggest airline IndiGo, said net profit surged over 56 per cent in the third quarter, helped by higher passenger ticket revenue and credit received from manufacturers.

Profit came in at Rs 762 crore ($119.73 million) for October-December, its best-ever for the third quarter, while revenue from operations grew about 24 per cent to Rs 6,178 crore.

October-December quarter is usually a strong period for airlines in the country due to multiple holidays falling during that time. The company said its revenue per available seat kilometre - a measure of its operating earnings - rose about 10.4 per cent to Rs 384 crore. Passenger yields, which gauge the average fare paid per mile per customer, climbed 6.3 per cent.

The company expects a 24 per cent rise in fourth-quarter available seat kilometres, a measure of the airline's passenger carrying capacity. InterGlobe Aviation shares ended 3.8 per cent higher after the results, which came in a few minutes before market close.

Published on January 24, 2018
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