Q1 preview: Street expects IndiGo to serve record profit, SpiceJet’s menu card to be low on flavour

Four years ago, India’s biggest budget airline reported a record quarterly net profit of INR1,000 crore. Just a few months before IndiGo announced its FY19 June quarter results, the country’s oldest private airline, Jet Airways, had gone bankrupt. Ronojoy Dutta, who had taken over as IndiGo CEO in early 2019, tried to downplay the impact of Jet’s demise on the airline’s record quarterly profit. He argued that since Jet used to garner nearly 65%