"We expected IndiGo to have reported a very modest profit," said Kapil Kaul, South Asia chief executive officer of aviation consultancy firm Centre for Asia Pacific Aviation. "I am not surprised though as FY11-12 had a hostile cost environment."
IndiGo did not offer any comments.
IndiGo's operating expenses in FY12 were R5,640 crore as compared to an operating revenue of Rs. 5552.4 crore.
The airline's operating expenses were set to increase after it launched international operations in September 2011.
The carrier, owned by Gurgaon-based Rahul Bhatia and US-based investor Rakesh Gangwal topped up an earlier plan to buy 100 Airbus planes with another 180 in 10 years beginning 2015, with a shopping bag of $15.6 billion (around Rs. 70,000 crore).