NEW DELHI: InterGlobe Aviation, the holding company of private airline IndiGo, on Wednesday reported a drop of 73 per cent in its net profit for the quarter ended March 2018 to Rs 118 crore as compared to Rs 439.98 crore in the same quarter the previous year.
The firm’s total income in the recently concluded fourth quarter grew to Rs 6,056.84 crore compared to Rs 5,141.99 crore in the same period a year ago.
The company’s bottom line was primarily hit by a 33.5 per cent surge in aviation fuel expenses on a year-on-year basis.
As per data provided by the airline, fuel expenses shot up to Rs 2,337.71 crore in the latest quarter under review from Rs 1,750.51 crore in the year-ago period.
InterGlobe’s other costs also grew by 28 per cent to Rs 3,552.9 in the same period. For the year ended March 2018, the company’s profit after tax jumped to Rs 2,242.58 crore from Rs 1,656.98 crore in 2016-17, while it’s total income stood at Rs 23,967.74 crore compared to Rs 19,369.57 crore in the same period a year ago.