IndiGo operator Interglobe Aviation profit surges on Jet Air collapse

InterglobeAviationLtd, which operates India's topairlineIndiGo, on Friday reported its highest-ever quarterlyprofitafter tax in the June quarter, as the collapseofJetAirways diverted passengers to other low-cost carriers.

The company and its peer SpiceJetLtd have both seen a surge in passenger growth, afterJetAirways, once the country's biggest private carrier, declared bankruptcy.

Interglobesaid its netprofitfor the three months ended June 30 rose to over 12 billion rupeesfrom 277.9 million rupees a year ago. Revenue rose 45% to 94.2 billion rupees.

IndiGo's founders have recently been involved in an escalating dispute, dragging down the parent's shares.

IndiGo's yield, a measure of the average passenger fare per mile, rose 12.8%, reflecting the rising passenger preference for theairline, which is now India's biggest by market share.

Interglobeshares closed 0.28% higher on Friday amid a broader market that ended 1.53% down.