INSUBCONTINENT EXCLUSIVE:
Airways and kept a check on costs
But the board meeting that reviewed its financial performance remained inconclusive on some counts and will spill over to Saturday to
discuss resolutions such as the appointment of a woman director, said CEO Rono Dutta.
Dutta also continued to play down differences between
In a note in the earnings announcement, Indi-Go acknowledged it had received communications from Sebi and the corporate affairs
ministry.
Both had been approached by Gangwal, who had flagged several issues of corporate governance within the company.
In a post-earnings
conference call with analysts, Dutta said IndiGo will respond to Sebi Friday and the corporate affairs ministry by the end of next week.
The
board meeting which started around 2 pm continued for about two hours but none of the contentious issues came up for detailed discussions
These issues and the selection of an independent woman board member are expected to be discussed by the board on Saturday.
Earlier on
Friday, IndiGo announced a 43-fold jump in net profit on robust operating performance that benefited from the grounding of Jet Airways,
which has been referred to bankruptcy court.
Net profit soared to a record Rs 1,203 crore for the first quarter of FY20 from the year
Revenue rose 45 per cent to Rs 9,420 crore
Revenue per available seat kilometre rose 10.7 per cent to Rs 4.10 while yield per kilometre rose 13 per cent to Rs 4.08
while they would better than the previous year, when margins on profit before tax narrowed 16 per cent, the situation was still
He said that would require a change in the articles of association.
The absence of a woman director was one of several issues flagged by