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India's IndiGo owner Q4 profit falls 25 pct on higher fuel cost
May 9, 2017 / 10:58 AM / 6 months ago

India's IndiGo owner Q4 profit falls 25 pct on higher fuel cost

May 9 (Reuters) - India’s InterGlobe Aviation Ltd, owner of the country’s largest airline, IndiGo, posted a nearly 25 percent fall in quarterly profit, hurt by rising fuel costs.

Net profit fell to 4.40 billion rupees ($68.04 million) in the quarter ended March 31, compared with 5.84 billion rupees a year earlier, the company said on Tuesday. (bit.ly/2qWPV9N)

Fuel costs during the fourth quarter rose 71 percent to 17.51 billion rupees from the year-ago period, InterGlobe said.

The company also said it had signed a term sheet with European Turboprop Maker Avions de Transport Regional G.I.E. (ATR) to buy 50 ATR 72-600 aircraft. ($1 = 64.6700 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair)

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