IndiGo's operator Interglobe Aviation reports 24% rise in Q3 net profit

Interglobe Aviation Ltd, which operates country's largest airline IndiGo , reported a 23.7 per cent increase in net profit for the third quarter on higher passenger traffic and lower oil prices.

The company, which made its market debut in November, said net profit was Rs 657 crore ($97 million) for its fiscal third quarter to December 31, compared with Rs 531 crore a year earlier.

Revenue for the quarter rose 11.9 per cent from a year earlier to Rs 4407 crore as passengers grew 27.6 per cent.

The company, which raised Rs 3010 crore in its initial public offering (IPO) in three years, has outperformed rivals Jet Airways and SpiceJet by keeping costs low.

Interglobe shares have gained 56.6 per cent from its IPO price of Rs 765.

($1 = Rs 67.8631)

(Reuters)