When IndiGo, India's largest airline by passengers carried, reported a profit of Rs 787 crore in the 2013 financial year, it stunned many in a manner unusual for an earnings broadcast. Aviation has always been a thorny industry, one as is said only half in jest that makes millionaires out of billionaires, but Indian aviation has stood out as notoriously brutal owing to high taxes and costly airport charges.
The year to March 2013 also happened to be the worst in recent years due to a steep increase in fuel prices and weakening rupee. During the year, Kingfisher AirlinesBSE 1.30 % shut shop and IndiGo's competitors made losses of more than $1 billion.
But IndiGo emerged unaffected from the wreckage. The latest numbers, revealed by IndiGo president Aditya Ghosh on September 24, burnished the airline's reputation as the lone Indian carrier to prosper in a troubled industry.
Read news in full 22/12/13 Economic Times
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