IndiGo Q2 profit rises 24% to Rs 140 crore.

Low-cost carrier IndiGo posted a net profit of Rs 139.8 crore in the quarter ended on September 30, 2016, up 24% from Rs 113.1 crore reported in the same period last fiscal.

The LCC saw its total operational revenue rise to Rs 4,166.9 crore in Q2, while last fiscal same period the figure was Rs 3,539.93 crore. The increased profit came on back of higher passenger revenue even as its total expenses shot up to Rs 4,090.2 crore in Q2. For the quarter, passenger revenues were Rs 3,597.9 crore, an increase of 18%, while ancillary revenues were Rs 558.4 crore, a rise of 17.7% compared with the same period last year, the filing said.

"We are pleased to report another profitable quarter and traffic growth of 32.7%. At the same time, our unit cost excluding fuel has reduced by 9.7% despite operating in an inflationary environment," said IndiGo whole-time director and president Aditya Ghosh. The stock closed at Rs 924.50 on BSE on Tuesday, down 0.3%.

At the end of September, IndiGo's total cash balance stood at Rs 6,857.2 crore comprising Rs 2,386.5 crore and Rs 4,470.7 crore of restricted cash. During the same period, the total debt was at Rs 2,742.8 crore.

"The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt," the airline said in a BSE filing said. IndiGo said it expects to have a fleet of 136 aircraft at the end of the current financial year. It currently has 118 aircraft.

The airline said it was "adversely impacted by operational issues arising out of A320 neo engines".

Courtesy:- Times of India.