IndiGo Q3 profit zooms to Rs 2,998 crore; only Rs 90 crore less than its highest-ever quarterly gain – Times of India

by The Technical Blogs

NEW DELHI: Budget carrier IndiGo has reported a profit of Rs 2,998.1 crore in the quarter ended Dec 31, 2023, up 111% from Rs 1,422.6 crore in Q3 of last fiscal. This is only marginally lower than the highest-ever quarterly profit for an Indian carrier at Rs 3089.2 crore reported by IndiGo in the April-June 2023 (Q1) period.
With five consecutive profitable quarters, the airline has recovered from Covid time losses and become net worth positive again, said IndiGo CEO Pieter Elbers.
“The year 2023 was marked by numerous milestones. We served 10 crore plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations. Each achievement is a testament to our focused strategy, loyalty of our customers and dedication of 6E employees,” said Elbers, who’s heads India’s largest standalone airline in terms of both domestic and international passenger carriage.
For the quarter ended Dec 31, 2023, compared to the same period last year, IndiGo says its capacity increased by 26.8%; passengers increased by 23.4% to 2.7 crore; yield rose by 2% and load factor improved by 0.7 points to 85.8%. Revenue from operations increased by 30.3% to Rs 19,452.1 crore. On the other hand, it saw a reduction in fuel cost by 6.7%.
As on Dec 31, 2023, IndiGo had a total cash balance of Rs 32,428 crore. The capitalised operating lease liability was Rs 44,556.5 crore. The total debt (including the capitalised operating lease liability) was Rs 51,187.5 crore.

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