IndiGo Q3 results: For the quarter that concluded on December 31, the company declared a standalone profit of Rs 2,998 crore, up from Rs 1,418 crore during the same time the previous year.
Due to a robust demand for air travel, IndiGo operator Interglobe Aviation Ltd. announced a 110.68 percent increase in third-quarter profit on Friday. For the quarter that concluded on December 31, the company declared a standalone profit of Rs 2,998 crore, up from Rs 1,423 crore during the same time the previous year.
IndiGo Q3 results: Profit more than doubled to Rs 2,998 crore.
Revenue from operations climbed by 30.26 percent during the reviewed quarter to Rs 19,452 crore, up from Rs 14,933 crore during the same time in the previous fiscal year. We reported a profit after tax of Rs 3,000 crore for the third quarter of FY24, with a profit after tax margin of 15.4%. Pieter Elbers, CEO of IndiGo, stated, With these five quarters of profit, we continue to recover from the losses of Covid and have now become net worth positive again.
In comparison to the same period last year, the airline’s passenger ticket revenues for the quarter were Rs 17,157 crore, up 30.3%, and its ancillary revenues were Rs 1,760 crore, up 23.8%. The total expenditure for the quarter that concluded in December 2023 was Rs 17,063.7 crore, which is a 22% increase over the same period the previous year. IndiGo reported having a total cash balance of Rs 32,428 crore as of December 31, 2023, which was made up of Rs 19,199.6 crore in free cash and Rs 13,228.5 crore in restricted cash. At Rs 44,556.5 crore, the capitalized operational lease liability was present. The capitalized operational lease liability was included in the overall debt of Rs 51,187.5 crore.
Sanjay Gupta, the chief compliance officer (CCO) and company secretary, resigned, according to a statement released by IndiGo. Within the company, he will be assuming a new position. Neerja Sharma has also been named CCO and company secretary.
