IndiGo's Q1 net profit rises to Rs 1,203 cr

 InterGlobe Aviation Ltd-owned India's biggest airline by market share, IndiGo, on Friday posted its highest ever quarterly net profit at Rs 1,203 crore for the first-quarter of 2019-20.

Accordingly, the company's profit grew to Rs 1,203.1 crore from Rs 27.8 crore in the year-ago quarter.

"Strong passenger revenues along with a sharp improvement in cargo performance were key drivers to this improved profitability. We are particularly pleased with this quarter because it demonstrated our ability to grow rapidly while simultaneously expanding our margin performance," the company's CEO, Ronojoy Dutta.

"I am also proud that our company has been awarded Best Low Cost Airline in Central Asia and India by Skytrax for the tenth time in a row. I wish to thank all our employees for the high levels of performance that we are witnessing across the company." IANS