IndiGo Parent Posts 53 Pct Profit Rise

IndiGo parent InterGlobe Aviation reported a 53 percent jump in full-year net profit to INR19.9 billion rupees (USD$299.9 million), helped by the rapid growth of revenue at its budget carrier.

IndiGo is India's largest airline, flying about one in three passengers in the country's booming air travel market.

InterGlobe, which listed on the Mumbai stock exchange last year, said in a regulatory statement that net profit in its fourth quarter was up just 0.3 percent to INR5.79 billion rupees over the previous year, with increased revenue offset by higher aircraft and engine costs.

Indian carriers, including SpiceJet, Jet Airways and GoAir, are benefiting from a 20-percent rise in passenger numbers as more people fly, as well as lower fuel prices.