InterGlobe Aviation, parent of IndiGo airline, on Friday reported a net profit (PAT) of Rs 1,203 crore for the April-June quarter of financial year 2019-20 (Q1FY20), up 4,229.7 per cent year-on-year (YoY) from Rs 27.8 crore in Q1FY19. The profit rose 102 per cent on a sequential quarter basis. This was the airline’s highest ever quarterly profit.
Accordingly, the company’s profit grew to Rs 1,203.1 crore from Rs 27.8 crore in the year-ago quarter.
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“Strong passenger revenues along with a sharp improvement in cargo performance were key drivers to this improved profitability. We are particularly pleased with this quarter because it demonstrated our ability to grow rapidly while simultaneously expanding our margin performance,” the company’s CEO, Ronojoy Dutta.
“I am also proud that our company has been awarded Best Low Cost Airline in Central Asia and India by Skytrax for the tenth time in a row. I wish to thank all our employees for the high levels of performance that we are witnessing across the company.”