IndiGo, India's biggest airline by market share, posted Rs 317-crore net profit for the year-ended March 31, 2014, compared to Rs 787 crore a year earlier, according to results filed with the registrar of companies.
IndiGo has posted profits for the sixth straight year. The airline has cemented its position as the most profitable carrier in the sector, but profits have halved due to currency fluctuations and price wars. However, this will bolster Indigo's IPO plans.
IndiGo, India's biggest airline by market share, posted Rs 317-crore net profit for the year-ended March 31, 2014, compared to Rs 787 crore a year earlier, according to results filed with the registrar of companies.
Most airlines in the country are troubled on the back of rising airline costs and fuel rates (aviation turbine fuel). Rupee depreciation and price wars are some of the reasons that led to the fall in IndiGo's profit.
In recent times, the low-cost carrier has also lost as many as 40 commanders or senior pilots mainly to Gulf carriers in the last one year.
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