{"id":56078,"date":"2024-02-02T21:07:11","date_gmt":"2024-02-02T15:37:11","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=56078"},"modified":"2024-02-05T11:54:44","modified_gmt":"2024-02-05T06:24:44","slug":"indigo-reports-staggering-q3-2023-24-profit","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/02\/02\/indigo-reports-staggering-q3-2023-24-profit\/","title":{"rendered":"IndiGo Reports Staggering Q3 2023-24 Profit of Approx 3,000 Crore"},"content":{"rendered":"\n

GURUGRAM-<\/strong> InterGlobe Aviation Ltd, the parent company of India’s largest budget airline, IndiGo (6E)<\/a>, reported a remarkable 111 percent surge in net profit for the December (Q3 2023-24) quarter, driven by sustained demand for air travel and the implementation of a fuel surcharge in October.<\/p>\n\n\n\n

The net profit reached Rs 2,998.12 crore<\/strong>, a significant increase from Rs 1,422.6 crore in the same period the previous year, as disclosed by the air carrier to the exchanges. The revenue experienced a substantial growth of 30 percent, reaching Rs 19,452.15 crore<\/strong>.<\/p>\n\n\n\n

\"IndiGo
Photo: avgeekwithlens\/ Harsh Tekriwal<\/figcaption><\/figure>\n\n\n\n

IndiGo Reports Q3 Profit<\/h2>\n\n\n\n

IndiGo’s total income rose to Rs 20,062.2 crore from Rs 15,410.2 crore in the corresponding period of the previous year, as indicated in the release.<\/p>\n\n\n\n

During the quarter, the airline served 243.10 lakh passengers<\/strong>, capturing a market share of 62.1 percent. In the comparable period the previous year, IndiGo transported 199.70 lakh passengers, holding a market share of 55.7 percent.<\/p>\n\n\n\n

In the pre-pandemic year of 2019, specifically during the October-December quarter, IndiGo transported 181.82 lakh passengers, achieving a market share of 47.5 percent for that quarter.<\/p>\n\n\n\n

The terms of sequential performance, IndiGo reported a profit of Rs 189 crore on sales of Rs 14,943 crore in the second quarter of FY23-24. Subsequently, in the first quarter of FY2023-24, it recorded a profit of Rs 3,090 crore on sales of Rs 16,683.1 crore.<\/p>\n\n\n\n

IndiGo has exceeded market expectations with its Q3FY2024 results.<\/p>\n\n\n\n

Prabhudas Lilladher had anticipated that InterGlobe Aviation would disclose a net profit of Rs. 2,446.9 crore and net sales of Rs. 18,120.7 crore, as reported by Moneycontrol<\/em>.<\/p>\n\n\n\n

\"IndiGo
Photo: avgeekwithlens\/ Harsh Tekriwal<\/figcaption><\/figure>\n\n\n\n

Executive Remarks<\/h2>\n\n\n\n
\n

“With these five consecutive quarters of profit, we continue to rebound from the losses incurred during the Covid period and have now restored a positive net worth.”<\/p>\nChief Executive Officer, Pieter Elbers<\/cite><\/blockquote>\n\n\n\n

For the quarter, the company reported that its passenger ticket revenues reached Rs 17,157.2 crore, reflecting a 30.3 percent YoY increase. In comparison, ancillary revenues amounted to Rs 1,760 crore, marking a 23.8 percent rise compared to the corresponding period last year.<\/p>\n\n\n\n

On the operational front, the earnings before interest, tax, depreciation, amortization, and rent cost (EBITDAR) profit or consolidated operating profit for the quarter was Rs 5,475.1 crore, surpassing the operating profit of Rs 3,399 crore recorded in the same quarter of the previous year.<\/p>\n\n\n\n

\"Goa
Photo: IndiGo<\/figcaption><\/figure>\n\n\n\n

Staggering Growth in Passenger<\/h2>\n\n\n\n

On a year-on-year basis, available seat kilometers experienced a notable increase of 26.8 percent, reaching 36.5 billion, while revenue passenger kilometers surged by 27.8 percent to 31.3 billion.<\/p>\n\n\n\n

The load factor for the no-frills airline concluded at 85.8 percent at the conclusion of the December quarter, as opposed to 85.1 percent in the corresponding year-ago period.<\/p>\n\n\n\n

The operational performance was hindered by elevated fuel costs, resulting in a revenue per available seat kilometer (RASK) of Rs 5.34, while the cost per available seat kilometer (CASK) was Rs 4.52.<\/p>\n\n\n\n

InterGlobe Aviation reported that the yield per passenger rose to Rs 5.34 in the December quarter, up from Rs 5.38 a year ago.<\/p>\n\n\n\n

The company’s total debt increased by 15.1 percent year-on-year, reaching Rs 51,187.5 crore in the December quarter. However, total cash rose by 47.9 percent to Rs 32,428 crore, inclusive of free cash amounting to Rs 19,199.6 crore.<\/p>\n\n\n\n

The airliner concluded the quarter with 358 aircraft in its fleet, up from 334 in the previous quarter. IndiGo operated at a peak of 2,016 daily flights during the quarter, which included non-scheduled flights.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

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IndiGo Likely to Lease Qatar Airways New Boeing 737 MAX Amid P&W Woes<\/a><\/blockquote>