Indigo said robust demand on account of the peak travel season was the reason behind topline growth. Net profit for India's largest airline rose to ₹1,422.6 crore, compared to a net loss of ₹1,583.3 crore in the September quarter.
The cost-per-available seat- km or the unit cost rose 18% from the year ago to ₹4.77 but fell 7.3% sequentially in a relief to the airline. The reduction in fuel price and lower losses due to foreign exchange during the quarter helped the sequential decrease of costs, the firm said.
The new price mechanism for I aviation turbine fuel, which is benchmarked on MOPAG or Mean also of Platts Arab Gulf, favoured airlines in reducing fuel costs, it added.
However, jet fuel prices in the December quarter were still 50% higher than a year earlier.
This story is from the February 04, 2023 edition of Mint Mumbai.
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This story is from the February 04, 2023 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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