IndiGo's Soaring Profits Hit Turbulence
IndiGo, the largest airline in the country, reported a 20% drop in profit after tax for the June quarter despite a 12% rise in passenger volumes. The airline's challenges included geopolitical tensions and airspace restrictions, impacting its financial performance compared to last year.
- Country:
- India
New Delhi, July 30 - IndiGo, the nation's largest airline, faced a 20% decline in profit after tax, dipping to Rs 2,176.3 crore for the three-month period ending in June.
This downturn comes in stark contrast to the Rs 2,728.8 crore profit reported in the same quarter last year.
Despite encountering challenging conditions such as geopolitical tensions and airspace restrictions, as noted by parent company InterGlobe Aviation, IndiGo managed to achieve a net profit of Rs 21,763 million for the quarter, buoyed by a 12% year-over-year surge in passenger volumes.
(With inputs from agencies.)
Advertisement
Google News