India's Interglobe Aviation bounces back to profit on strong travel demand
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NEW DELHI -Interglobe Aviation Ltd, which operates India's biggest airline, reported a quarterly profit on Friday due to a rebound in travel demand during the holiday season, even as fuel costs surged.
The IndiGo parent reported a net profit of 1.28 billion rupees ($17 million) in the three months to Dec. 31, compared with a loss of 6.27 billion rupees a year earlier.
The company said revenue from operations nearly doubled to 92.95 billion rupees from a year earlier while passenger load factor, or the passenger carrying capacity being used, rose to 80%.
Yields, a metric for profitability, grew 19.2% to 4.41 rupees compared with the previous quarter, despite a 186% rise in fuel prices over the same period.
The airline expects its available seat kilometers to be 10%-15% lower for the December-quarter compared with the third quarter of the current fiscal year.
