Mumbai: IndiGo once again emerged as the most profitable carrier in the
Indian aviation industry during last financial year, a feat that will
likely encourage hordes of investors to put their money into the airline
when it goes public next year. Net profit however more than halved due
to currency fluctuations and price wars in the industry.
India's biggest carrier by market share posted a net profit of Rs 317 crore for the twelve months ended March 31, 2014, compared to Rs 787 crore a year earlier, according to results filed with the registrar of companies. Revenue rose 18% to Rs 11,117 crore for the year compared to Rs 9,458 crore in FY13.
IndiGo's CEO and president Aditya Ghosh confirmed the airline has filed results with the registrar of companies but didn't elaborate.
The carrier has reported a profit for a year which marked one of the worst financial phases for the Indian airline industry due primarily to currency fluctuations, slow demand and subsequently, price cuts.
Read news in full 07/10/14 Anirban Chowdhury/Economic Times
India's biggest carrier by market share posted a net profit of Rs 317 crore for the twelve months ended March 31, 2014, compared to Rs 787 crore a year earlier, according to results filed with the registrar of companies. Revenue rose 18% to Rs 11,117 crore for the year compared to Rs 9,458 crore in FY13.
IndiGo's CEO and president Aditya Ghosh confirmed the airline has filed results with the registrar of companies but didn't elaborate.
The carrier has reported a profit for a year which marked one of the worst financial phases for the Indian airline industry due primarily to currency fluctuations, slow demand and subsequently, price cuts.
Read news in full 07/10/14 Anirban Chowdhury/Economic Times
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