Interglobe Aviation Ltd, that owns Indigo Airlines, on Wednesday introduced that it is going to be floating a Limited Liability Partnership to take a position in startups.
The firm additionally mentioned it closed the primary quarter of 2023-24 with a internet profit of Rs 3,087.2 crore. To put issues into perspective, this interprets to roughly Rs 35 crore per day.
In a regulatory submitting, the corporate mentioned the proposed Limited Liability Partnership will make investments in startups working in aviation, client and allied sectors equivalent to journey & life-style, hospitality, and transportation and Interglobe Aviation will make investments about Rs 7 crore in this.
According to the corporate, it closed Q1FY24 with an operational income of about Rs 16,683.05 crore (in opposition to Q1FY23’s Rs 12,855.29 crore) and a internet profit of Rs 3,087.2 crore (internet loss Rs1,065.42 crore).
The firm mentioned throughout the present quarter, the administration has reassessed the estimated helpful financial life for 14 CEO plane from 20 years to 13-16 years and consequent residual worth, foundation a number of components together with technological developments and the anticipated utilization.
Consequently, a further depreciation expense of Rs. 36.21 crore has been recorded throughout the quarter underneath assessment.