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Indigo Rewards Shareholders With Dividends After Its Profit Surges To Rs 590 Crore In Q4 FY19
IndiGo Airlines’ plane parked at the IGI airport on July 25, 2013 in New Delhi. (Ramesh Pathania/Mint via Getty Images)
Indigo Airlines beat market estimates to register a profit of Rs 590 crore in fourth quarter of FY19 beating the market estimates. It thumped the results from same quarter last year by 5 folds or 401 per cent. The company registered Rs 117.60 crore previous year in the same quarter.
Speaking about the same Indigo CEO said “Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment. However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery”, reports Economic Times.
He added “We see plenty of opportunities for profitable growth in our network and with a robust delivery stream of new aircraft, we are well positioned to capitalise on this growth.” The airlines has thus awarded its stakeholders wit a dividend of Rs 5 per share.
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