January 24, 2018 / 10:16 AM / in 7 months

InterGlobe Aviation third-quarter profit up 56 percent on higher ticket revenue

(Reuters) - InterGlobe Aviation Ltd, the owner of India’s biggest airline IndiGo, said net profit surged over 56 percent in the third quarter, helped by higher passenger ticket revenue and credit received from manufacturers.

Women spread fryums for drying on a rooftop as an IndiGo Airlines aircraft moves on the runway after landing at the Sardar Vallabhbhai Patel international airport in Ahmedabad, July 6, 2017. REUTERS/Amit Dave/Files

Profit came in at 7.62 billion rupees ($119.73 million) for October-December, its best-ever for the third quarter, while revenue from operations grew about 24 percent to 61.78 billion rupees. bit.ly/2n6aVe3

The October-December quarter is usually a strong period for airlines in the country due to multiple holidays falling during that time.

The company said its revenue per available seat kilometre - a measure of its operating earnings - rose about 10.4 percent to 3.84 rupees. Passenger yields, which gauge the average fare paid per mile per customer, climbed 6.3 percent.

The company expects a 24 percent rise in fourth-quarter available seat kilometres, a measure of the airline’s passenger carrying capacity.

InterGlobe Aviation shares ended 3.8 percent higher after the results, which came in a few minutes before market close.

($1 = 63.6450 Indian rupees)

Reporting By Arnab Paul in Bengaluru; Editing by Sunil Nair

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