IndiGo Q3 profit falls 78% on Dec trouble

INTERGLOBE AVIATION, WHICH operates IndiGo, on Thursday reported a sharp fall in its October-December profit after onetime charges linked to widespread flight disruptions in December dragged earnings well below market expectations, even as revenue grew at a modest pace.

- NITIN KUMAR

The country's largest airline posted a consolidated net profit of ₹550 crore for the three months ended December, down 77.5% from a year earlier. The figure was sharply lower than Bloomberg's estimate of 1,997 crore, reflecting the financial impact of large-scale cancellations and regulatory action during what is typically a strong quarter for the carriers.

"The months of October and November started very well and disruption in December changed some of our numbers," CEO Pieter Elbers said on a post-earnings call. He added that the airline had taken steps to stabilise operations following the December episode.