Indigo, India’s biggest airline, reported a profit for a fifth straight quarter as the budget carrier captured a higher share of passenger traffic during the period.
Net income rose 53% to 29.98 billion rupees ($362 million) in the three months through Dec. 31, Indigo said in a stock exchange filing Friday. The airline exceeded Bloomberg’s consensus estimate of 21.27 billion rupees.
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Revenue for the third quarter beat estimates at 194.5 billion rupees, 30% above year-earlier levels. Fuel costs rose 18%. Its seat capacity rose 26.8% during the period.
Indigo is ramping up capacity to seize a bigger chunk of what is one of the world’s fastest-growing aviation markets….
