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NEW DELHI: The weaker rupee has led to IndiGo reporting 18% decline in its Q3 profit to Rs 2,449 crore from Rs 2,998 crore in Oct-Dec 2023. This is despite a 14.6% increase in total income from Rs 20,062 crore in Q3 FY24 to Rs 22,993 crore in the same period this fiscal and benign fuel prices.
A majority of airline costs are dollar-denominated like lease rentals. The airline’s scrip closed 0.6% up on Friday when the broader market was down 0.4%. The airline is all set to introduce long-haul flights this summer by wet-leasing wide body aircraft as the twin-aisle Airbus A350s it has ordered will start coming from 2027. IndiGo is likely to wet lease six Boeing 787s and deploy them on routes like London, Paris and Amsterdam.
