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June 14, 2024
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Delhi-based low-cost airline IndiGo reported it more than doubled its net profit to Rs18.94 billion for the quarter ended March 31 this year, compared to a net profit of Rs 9.19 billion previously.

The airline said that in the last quarter, excluding foreign exchange loss, the profit amounted to Rs 20.60 billion, compared to Rs 6.66 billion previously.

In a statement announcing its results, IndiGo said, “First quarter of fiscal year 2025 capacity in terms of ASKs is expected to increase by 10-12 percent as compared to the first quarter of fiscal year 2024.”

For the quarter ending March 31 this year, compared to the same period last year, the airline carried 26.7 million passengers, an increase of 14 percent, while yield increased by 7 percent to Rs 5.19. The airline said that the load factor improved by 2.1 points to 86.3 percent, while revenue from operations touched Rs 178.25 billion, an increase of close to 26 percent from previously. The total income for the quarter ended March 2024 was Rs 185.05 billion, an increase of almost 27 percent over the same period last year.

For the quarter, passenger ticket revenue was Rs 156 billion, an increase of 25.5 percent, and ancillary revenue was Rs 17.19 billion, an increase of almost 19 percent compared to the same period last year.

For the full year ended March 2024, IndiGo reported a net profit of Rs 81.72 billion, compared to a loss of Rs 3.05 billion previously.

For the full year, the airline saw a close to 22 percent increase in capacity to 139.3 billion.  Passengers carried touched 106.7 million, an increase of 106.7 million. Yield decreased to Rs 5.08 while the load factor improved to almost 86 percent, an increase of close to 4 percent. Revenue from operations stood at Rs 689.04 billion, a rise of 26.6 percent, while the airline reduced fuel costs to Rs 1.72 or almost 17 percent.

Fiscal year 2024 has been a year of many remarkable achievements and milestones. For the full financial year 2024, we reported our highest-ever total income of around  Rs 712 billion, with a net profit of around Rs 82 billion and a net profit margin of 11.9 percent. The fourth-quarter financial results were positive, making all four quarters in FY24 profitable,” said Pieter Elbers, Chief Executive Officer of IndiGo.

On March 31 this year, the airline’s fleet consisted of 367 aircraft, including 31 A320 CEOs, 192 A320 NEOs, 94 A321 NEOs, 45 ATRs, 3 A321 freighters, and 2 B777s (on damp lease). The airline has also shared its financial improvement with employees.

author avatar
Ashwini Phadnis
Former Senior Deputy Editor at Business Line (aka The Hindu Business Line)

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