IndiGo's Q2 net profit up 23.6%

Budget passenger carrier IndiGo on Tuesday reported an increase of 23.6 per cent in its net profit for the quarter ended September 30, 2016.

According to the airline, the net profit during the quarter under review increased to Rs 139.84 crore from Rs 113.13 crore in the like period of last fiscal.

"We are pleased to report another profitable quarter and traffic growth of 32.7 per cent," Aditya Ghosh, President and whole-time Director of IndiGo, was quoted as saying in a statement.

"At the same time, our unit cost excluding fuel has reduced by 9.7 per cent despite operating in an inflationary environment."

The low-cost carrier's (LCC) total income from operations, including other operating income, grew by 17.7 per cent to Rs 4,166.93 crore from Rs 3,539.92 crore reported in the corresponding quarter of 2015-16.

IndiGo's total revenue, including other income, rose by 18.9 per cent to Rs 4,327.69 crore from Rs 3,638.78 crore.

"As of 30th September 2016, IndiGo had a total cash balance of INR 68,572 million comprising of INR 23,865 million of free cash and INR 44,707 million of restricted cash," the statement said.

"The total debt as on 30th September 2016 was INR 27,428 million. The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt."

The budget carrier had the largest passenger share in the domestic market in September at 40 pr cent.

The airline with a fleet of 118 aircraft as of September 30, 2016 offers 840 daily flights connecting 36 domestic and five international destinations.

--IANS

rv/vt