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Meet engineer, MD who earned Rs 143 crore per day for 2 months, here's how
Rahul Bhatia is the 22nd richest person in India. His firm, InterGlobe Aviation, has logged a surge of 32 percent in share prices.
Updated : Jun 11, 2023, 10:55 PM IST | Edited by : Vaibhav Tiwari
 "Rahul Bhatia: The market capitalisation of the company is Rs 93,263.84 crore. (File)")
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Since Go First airlines ceased operations, other airlines have been witnessing a surge in passenger footfall. IndiGo Airlines has also benefited from this. The demand for their flight tickets has increased dramatically. The company's stock in share markets has also surged over the past two months. The founder of the company's net worth has risen by over 1 billion dollars in two months. Rahul Bhatia, the promoter of the company, has logged an increase of Rs 8583 crore in just sixty days.
Bhatia's net worth was 4.28 billion dollars. It is now 5.32 billion dollars. In Indian currency, this translates into over Rs 43000 crore.
According to the Bloomberg Billionaires Index, Bhatia is the 22nd richest person in India. His firm, InterGlobe Aviation, has logged a surge of 32 percent as far as share price is concerned. The price of the share at March end was Rs 1912; it has increased to Rs 2418.50.
The market capitalisation of the company is Rs 93,263.84 crore.
The global crude prices have stabilized. This is another reason the company is hoping for favourable financial results.
Rahul Bhatia and family have a 38 percent stake in InterGlobe Aviation. This comprises the majority of his fortune.
IndiGo has a massive domestic market share of 55 percent. The company was co-founded by Rakesh Gangwal in 2006. According to Forbes, the company has 300 aircraft and 101 destinations.
In 2022, IndiGo's parent company partnered with logistics giant UPS and formed Movin, a logistics company.
The group also owns Interglobe Hotels, which runs 19 hotels in India and 14 hotels abroad.
Bhatia is the Managing Director of the Group. He did electrical engineering from the University of Waterloo in Ontario, Canada.
The company was launched in 1989. Its main business was Air Transport Management. The company later diversified into Civil Aviation (IndiGo), Hospitality, Airline Management, Travel Commerce, Advanced Pilot Training, Aircraft Maintenance Engineering and Logistics.
