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IndiGo Q3 profit slumps as fuel costs hurt

Revenue rose 28 per cent to Rs 7,916 crore.

, ET Bureau|
Jan 23, 2019, 04.58 PM IST
Mumbai: Interglobe Aviation, which operates IndiGo airline, on Wednesday announced a 75% slump in its profit due to a weak operating performance.

India’s biggest airline by market share posted a net profit of Rs 190 crore for October-December, down from Rs 762 crore a year earlier.

Revenue rose 28 per cent to Rs 7,916 crore. But revenue per available seat kilometer, a measure of per seat per kilometer revenue fell 3 per cent. The cost equivalent rose 14.5 per cent. The October-December is a peak travel period for airlines.

IndiGo’s fuel costs, the biggest cost chunk for an airline, rose 69 per cent to Rs 3,410 crore during the quarter.

As of end December 31, IndiGo had a total cash balance of Rs 14,136 crore of cash comprising of Rs 4,618 crore of free cash and the rest restricted.
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