Air India Express’s FY20 net profit climbs to Rs 412.77 cr

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New Delhi, Oct 29 | Air India’s low-cost international subsidiary Air India Express on Wednesday reported its highest-ever net profit, at Rs 412.77 crore for the financial year 2019-20.

The airline had reported a net profit of Rs 169 crore in 2018-19.

The airline which started its commercial operations in April 2005, has been reporting net profit continuously for the last five years.

“Efficient utilisation of assets in terms of aircraft, manpower and materials and enhanced operational efficiency in key areas have significantly contributed to the the record profits,” said K. Shyam Sundar, CEO, Air India Express.

The airline’s operating revenues grew by over 25 per cent from Rs 4,172 crore in FY2018-19 to Rs 5,219 crore in FY2019 -20.

Besides, the number of passengers flown by Air India Express increased by 11 per cent to reach 4.84 million from 4.36 million in 2018-19.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.

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