India’s IndiGo posts record quarterly profit on strong demand, lower fuel prices


Bengaluru (Reuters) – IndiGo operator Interglobe Aviation Ltd (INGL.NS) reported a record quarterly profit on Wednesday on strong demand for air travel and a fall in jet fuel prices.

India’s biggest airline by market share posted a profit of 30.87 billion rupees ($373.87 million) for the three months to June 30, compared with a loss of 10.65 billion rupees a year earlier.

Revenue from operations jumped nearly 30% to 166.83 billion rupees.

Fuel costs for the company fell 12.7% in the June quarter from a year earlier, it said.

The airline benefited from troubles at smaller rivals Go First and Spicejet , as well as a strong recovery in air travel demand in the world’s third-largest aviation market.

IndiGo’s yields, a metric for profitability, fell 1.2% year-over-year to 5.18 rupees per kilometre.

The low-cost carrier’s load factor, or the passenger carrying capacity being utilised, improved by nine percentage points to 88.6%.

The company expects capacity to rise by about 25% from a year earlier in the current quarter.

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