Budget airline IndiGo has reported a 300% rise in its net profit for the financial year ending March 2015, ahead of the company's listing on the stock exchanges later this year or early next year.
India's biggest airline by market share, Indigo earned a net profit of Rs 1,304 crore in 2014-15, up from Rs 317 crore in the previous financial year. The company's revenues rose to Rs 14, 320 crore from Rs 11,447 crore, The Economic Times reported.
Indigo said its capacity in available seat kilometers (ASKs) increased to 35.3 million in 2014-15, up from 29.9 million ASKs in 2013-14.
The carrier had filed a pre-IPO prospectus with the market regulator, the Securities and Exchange Board of India (Sebi), in June to raise $400 million (Rs 2,500 crore).
Currently, IndiGo runs 648 flights daily and has a fleet of 97 A320 planes. In August, the airline said that it had signed a deal with aerospace company Airbus to buy 250 A320neo aircraft for over $25 billion.
The carrier had a market share of 33.8% in the domestic passenger traffic in 2014-15.
In July this year, Qatar Airways had said that it was in discussions with IndiGo to buy a stake in it while denying reports of any such talks with SpiceJet.
Before that, in May, Qatar Airways CEO Akbar Al Baker had evinced interest in acquiring 49% stake in IndiGo.
Recently, the promoters of IndiGo altered the company's shareholding structure to provide more scope for overseas capital in the company's initial public offering (IPO).
Under the new capital structure, the stake held by one of its promoters, Rakesh Gangwal, has become his personal holding. Gangwal holds 47.88% in Indigo's parent company, InterGlobe Enterprises, through US-based Caelum Investment.