IndiGo loses 73% net in Q4 on high fuel costs and competitive pressure

The management indicated the falling yields, over the first four months of the current calendar year, have started to reverse over the past week

Severe competitive pressure, higher fuel costs and adverse forex exchange position led to a weak March quarter performance for InterGlobe Aviation, IndiGo's parent company. The company reported a 73 per cent decline in net profit to Rs 1.17 billion for the March quarter. Operating profit (excluding rentals) was down 22 per cent, while margins were down 1,000 basis points to 19.5 per cent. The numbers at the operating and net level were 34-80 per cent below estimates. The stock, which fell 3.7 per cent in trade, could see more pressure in trade on Thursday.

Fuel expenses, which account for 40