The Guragaon-based no-frills carrier yesterday reported a whopping 500 per cent increase in profit after tax to Rs 787 crore in FY'13 over a year-ago. The airline's revenue also grew 65 per cent to Rs 9,458 crore during the period as against Rs 5,718 crore in FY12 on the back of "better fares" and capacity expansion.
Ghosh, however, said much will depend on the rupee-dollar value as well as fuel cost and ticket pricing. "If any of these things go wrong, it could be hurtful for everybody and at the same time if people know how to manage it, it will be a great year again.
Generally, the fundamentals of growth stay very strong in the industry." Stating that since many of the airlines' costs are dollar-driven, Ghosh said, "when the dollar moves from Rs 54 on March 31 to Rs 70.69, naturally it is going to hurt. But that is going to be in every business and not just ours."
The airline expanded capacity by about 39 per cent in the last fiscal, he said adding, "IndiGo aims to close the current fiscal with 75 planes and plans to add 10 planes for the next fiscal." Ghosh, however, parried a question on the competition which then airline is expected to face due to the entry of new players in the domestic aviation space.