IndiGo's profit zooms 53% in FY16

Low-cost carrier IndiGo reported a net profit of Rs.1,990 crore in FY 2015-16, up 53% from previous fiscal's profit of Rs.1,304 crore. Net profit in the January-March period was at Rs.579 crore, marginally (0.3%) higher than Rs.577 crore profit reported in the same quarter of the previous fiscal.
The total revenue in FY 2015-16 was Rs.16,140 crore, up 16% from the revenue in the previous fiscal. Of this, Rs.14,062 crore was passenger revenue (rise of 14.4% from the previous fiscal) and Rs .2,002 crore was ancillary revenue (up 27.3%).
The LCC, which currently has 107 aircraft in its fleet, says it will end FY 2016-17 with a fleet of 136 planes. “We have started getting deliveries of Airbus A320 neos. The A320 neo powered by Pratt and Whitney's fuel efficient geared turbo fan engines will enable us to structurally reduce our costs as fuel continues to be the single largest element of our cost structure,“ said IndiGo president Aditya Ghosh.
IndiGo is India's largest airline (by domestic carriage) with a market share of 38.4% in March, 2016. It is the fastest growing budget carrier in the world.

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