New Delhi: InterGlobe Aviation, parent of budget carrier IndiGo, on Wednesday posted a 73% decline in profit at Rs117.96 crore in the three months ended March 2018, as higher fuel expenses crimped the bottom line.
The company had a total comprehensive income of Rs439.98 crore in the year-ago period, according to a regulatory filing. These figures are on a standalone basis.
In the fourth quarter of 2017-18 , the firm had a higher total income of Rs6,056.84 crore compared to Rs5,141.99 crore in the same period a year ago.
However, fuel expenses shot up to Rs2,337.71 crore in the latest quarter under review from Rs1,750.51 crore in the year-ago period.
For the year ended March 2018, the company’s total comprehensive income jumped to Rs2,242.58 crore from Rs1,656.98 crore in 2016-17.
In the last fiscal, the total income stood at Rs23,967.74 crore compared to Rs19,369.57 crore in the same period a year ago. These numbers are on a consolidated basis.
“We have reported our highest ever annual profits for fiscal 2018. “We continue to execute on our growth plans and are putting in place the management team to execute our plans,” IndiGo Co-Founder and interim CEO Rahul Bhatia said.