By Guy Taylor Ryanair has reported a sharp dip in quarterly profit despite strong demand for travel, as average flight fares decreased substantially. Profit after tax fell 46 per cent year-on-year, from €663m (£558m) to €360m (£303m), while revenue declined one per cent to €3.63bn (£3bn). Passenger numbers grew 10 per cent to 55.5m At the same time, the average cost of booking on one of its flights declined 15 per cent when compared with the prior. It means the 55.5m passengers who flew with Ryanair over the quarter, up 10 per cent, paid €41.93 (£35.30) on average. Chief executive Michael O’Le…