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The logo of IndiGo Airlines is pictured on passenger aircraft on the tarmac in Colomiers near Toulouse, France, July 10, 2018. REUTERS/Regis Duvignau//File Photo Acquire Licensing Rights
BENGALURU, Nov 3 (Reuters) – Airline IndiGo’s operator Interglobe Aviation (INGL.NS) reported a second-quarter profit on Friday following steady demand for air travel, which offset a rise in expenses.
India’s largest carrier reported a quarterly profit of 1.88 billion Indian rupees ($22.59 million), compared to a loss of 15.85 billion rupees.
The July-September quarter is usually weak for Indian carriers with fewer flyers and lower fares, according to analysts.
Still, IndiGo has benefited from troubles at smaller rivals Go First and SpiceJet (SPJT.NS).
IndiGo flew 23.3 million passengers, 33% higher than a year earlier and marginally lower than the previous quarter, as per data from the Directorate General of Civil Aviation, India’s aviation watchdog.
Interglobe’s revenue rose about 20% to 149.44 billion rupees, while quarterly expenses increased 6%.
Passenger load factor, or the passenger carrying capacity being utilised, improved by 4.1 percentage points to 83.3%.
($1 = 83.2410 Indian rupees)
Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema and Shounak Dasgupta
Our Standards: The Thomson Reuters Trust Principles.
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