Higher fuel cost chips away at IndiGo's profit, down 97% YoY

InterGlobe Aviation on Monday reported a 96.6 per cent plunge in profit at Rs 27.80 crore for June quarter, hurt by adverse impact of foreign exchange, high fuel prices and the competitive fare environment.The aviation company had reported Rs 811.10 crore profit in t he year-ago quarter. Aircraft fuel expenses rose 54.4 per cent YoY during the quarter to Rs 2,715.60 crore compared with Rs 1759.2 crore in the year-ago quarter.Revenue for the quarter rose 13.2 per cent to Rs 6512 crore, the aviation company said. The passenger ticket revenues for the quarter rise 13.6 per cent to Rs 5,769.40 crprewhile ancillary revenues were up 16 per cent at Rs 682.70 crore.The company expects its second quarter capacity increase in Available seat kilometres (ASKs) to be 28 per cent on YoY basis. For FY19, it sees 25 per cen increase in ASKs. At present, the company has 26 owned or finance lease and 143 operating lease aircrafts. 65198579

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