IndiGo Q3 net falls 25% on note ban, fare war

Airline to add six destinations this year

Demonetisation and an airline fare war resulted in a 25 per cent decline in IndiGo's net profit in the December quarter to Rs 487 crore from Rs 650 crore in the same period a year ago.

The airline said it was able to offset the impact due to cost control and a higher load factor. While the cost available seat kilometer (CASK) decreased by 7.5 per cent, IndiGo’s load factor increased by 2.7 per cent.

IndiGo, the country's largest airline by market share, increased its revenue by 16 per cent to Rs 498.64 crore during the quarter but yields fell