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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