IndiGo's Q4 net falls 25% on higher oil prices

New Delhi: IndiGo, India’s largest carrier in terms of market share, fourth quarter profit fell by about 25% from Rs 583 crore during 2016 fiscal to Rs 440 crore during the 2017 fiscal primarily on the back of rising oil prices.

For the 2017 fiscal, the airline made a profit of Rs 1659 crore as compared to Rs 19,86 crore, a decrease of 16.5%.
The airline’s revenue from operations for the quarter ended March 2017 grew by 18.5% compared to same period last year at Rs 48,48 crore. Revenue from operations for the full fiscal grew by 15.1% to Rs 18,580 crore for the year ended March 2017.

“For the last quarter, despite a 38% year over year increase in fuel prices, we have reported a profit after tax of INR 4.4 billion. We are also pleased to report that our board of directors has recommended a dividend of INR 34 per share for the fiscal year 2017,” IndiGo President Aditya Ghosh was quoted in the release.