IndiGo posts Rs 579 cr Q4 profit; to add 29 planes this fiscal

Hit by higher expenses, IndiGo's parent InterGlobe Aviation today saw its net profit remain flat at Rs 579.31 crore in the three months to March even as it flew more passengers during the period.
The largest domestic airline by market share had posted a net profit of Rs 577.33 crore in the year-ago period.
However, the budget carrier, which got listed on bourses last October, reported its highest-ever annual net profit at 1,989.72 crore in the previous fiscal, a 52 per cent increase over the year-ago period.
The airline had posted a net profit of Rs 1,304.17 crore in the fiscal ended March 31, 2015.

In a release today, IndiGo said its total income from operations stood at Rs 4,090.68 crore in the latest quarter compared with Rs 3,823.27 crore registered in the fourth quarter of 2014-15.
Despite lower fuel costs, IndiGo witnessed its total expenses in the March quarter jump nearly 12 per cent to Rs 3,409.86 crore. In the comparable period, the same was at Rs 3,049.79 crore.

During the latest quarter, the airline flew 24 per cent more passengers at 8.93 million compared to the year-ago period.
The load factor -- an indicator of seat occupancy -- too improved to 85.1 per cent during the period.

For the year ended March 31, IndiGo's net profit climbed to Rs Rs 1,989.72 crore from Rs 1,304.17 crore in the same period a year ago.
Total income from operations went up to Rs 16,139.90 crore in the year ended March from Rs 13,925.34 crore in 2014-15 fiscal.
IndiGo's President and Whole Time Director Aditya Ghosh said the company made profits for the eighth consecutive year, "with highest ever yearly profits".
"We have started getting deliveries of A320 neos. The A320 neos powered by Pratt and Whitney's fuel efficient geared turbo fan engine will enable use to structurally reduce our costs as fuel continues to be the single largest element of our cost structure," Ghosh said.

InterGlobe Aviation's board has recommended a final dividend of Rs 15 per share for financial year ended March 31.
During an earnings call, Ghosh said said IndiGo expects to add 29 more aircraft by March next year.
The addition would take its overall fleet size to 136 by end of this financial year, as the airline pursues its ambitious fleet and network expansion plans.
Earlier, the airline had planned to take delivery of 24 new planes and that number has been increased to 29.
The company's total debt reduced to Rs 3,200.80 crore at the end of March this year.

At the end of March, InterGlobe Aviation had total cash of Rs 6,046.8 crore comprising Rs 2,262.30 crore of free cash and Rs 3,784.50 crore of restricted cash.