ON AIR Avalon Aptech Chennai/ Coimbatore NDTV | Updated On: September 24, 2013 15:39 (IST) IndiGo posts profit for 5th year, FY13 net soars 516% At a time when most of the Indian airlines are struggling, Gurgaon-based IndiGo Airlines reported a sharp jump in its yearly net profit, boosted by capacity expansion and higher revenues. The airline posted a net profit of Rs. 787 crore for the fiscal year ending March 31, 2013, as compared to Rs. 128 crore in the previous year, a jump of nearly 516 percent. This is the fifth year in a row that the airline has posted profits since we breaking even in 2008-09. The revenues of the largest Indian airline in terms of passengers carried increased 65 percent to Rs. 9,458 crore in FY13 as compared to Rs. 5,718 crore in FY12. In terms of capacity, IndiGo saw a 39 percent increase. The number of its aircraft grew from 55 in March 2012 to 66 in March 2013. It has now risen to 70. Higher load factor and capacity expansion led to higher profitability, IndiGo President Aditya Ghosh told NDTV Profit. "There are no compelling reasons for us to look for a foreign partner," he added. For the fiscal year, IndiGo added 1,949 new employees. IndiGo Airlines is not a listed company
Posted on: Tue, 24 Sep 2013 12:19:38 +0000
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