HDFC Q3 Net Profit Moves Up 13% To Rs 2729 Crore

Pune: Motorcycle maker Bajaj Auto on Tuesday posted a 4.73% drop in its third quarter net profit as combined sales of its two-wheelers and commercial vehicles fell by about a lakh in the three-month period ended December 31, 2016.

IndiGo's total revenue, including other income, rose by 16.8 per cent to Rs 5,158.42 crore from Rs 4,418.12 crore. During the quarter the airline reported 16% y-o-y increase in passenger revenues and 12.5% y-o-y increase in ancillary revenues.

"We have reported yet another profitable quarter despite lower yields and higher fuel prices", Aditya Ghosh, President and Director of IndiGo, said in a statement.

Expected fleet at the end of fiscal year 2017 is expected to go up to 133 including 20 A320neos.

The company said available seat kilometre, a key measure of an airline's capacity, is expected to increase by 25 percent in the January-March quarter.

IndiGo's operational performance during the quarter was affected by several factors including bad weather, congestion at main airports and issues with the Pratt & Whitney engines in its new A320neo narrow-body planes, Ghosh said.

On a standalone basis, HDFC reported a rise of 11.95 per cent in net profit at Rs 1,701.21 crore during October-December as against Rs 1,520.51 crore a year ago.

An IndiGo Airlines aircraft prepares to land as a man paddles his cycle rickshaw in Ahmedabad, India, October 26, 2015. During the quarter, global oil prices rose about 16 percent to $56.82 per barrel as of December 30, Reuters data showed.

"The government's action to demonetise high value current had an adverse impact on the auto industry".

Related:

Comments


Other news