Mumbai: Amid the carnage in the Indian aviation sector, budget airline IndiGo, promoted by InterGlobe group, has recorded profits for last financial year. Industry official aver that IndiGo will be the only domestic airline to do so, in 2011-12.
“We have recorded profits in 2011-12 too though it’s likely to be in the region of Rs 50-100 crore,” Aditya Ghosh, president of InterGlobe Aviation told Financial Chronicle. IndiGo’s profits are but a small sliver of its profits for the year ended March 2011 figure of Rs 650 crore, up around 18 per cent over the previous year.
Rahul Bhatia, group managing director of InterGlobe Enterprises, the parent company of the group, too confirmed to FC that IndiGo had recorded profits in a year in which airlines such as Kingfisher struggled to stay afloat while others such as Jet Airways were forced to delay salaries to staff. “We must have recorded profits for 2011-2012 too, otherwise I would have known about it. But in any case, the documents will become public once we file our audited results with the Directorate General of Civil Aviation,” said Bhatia.
15/04/12 Yassir A Pitalwalla/mydigitalfc.com
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