In contrast to Rs 919.20 crore in the same quarter of last year, InterGlobe Aviation Ltd. (IndiGo) said on Thursday that its net profit for the March quarter increased by 106% year over year (YoY) to Rs 1,894.80 crore. According to the airline, compared to the first quarter of the fiscal year 2024, the capacity for the June quarter in terms of ASKs is anticipated to grow by 10% to 12%. A live audio earnings call for IndiGo will take place today, May 23, at 5:00 p.m. IST.
The airline said that its fourth-quarter income from operations increased by 25.9% YoY to Rs 17,825.30 crore. According to an exchange report by IndiGo, profit was Rs 2,060 crore when foreign exchange loss was excluded, down from a profit of Rs 666.40 crore year over year.
Revenue from passenger tickets increased by 25.5% during the quarter to Rs 15,600 crore. At Rs 1,719.40 crore, ancillary revenues increased 18.9% year over year. According to InterGlobe Aviation, its capacity reached 34.8 billion during the quarter, up 14.4% YoY. Passenger count rose to 26.7 million, up 14% YoY.
With Rs 20,823 crore in free cash and Rs 13,914 crore in restricted cash, IndiGo had a total cash balance of Rs 34,737 crore. At Rs 43,488 crore, the capitalized operating lease liability was present. The capitalized operating lease liability was included in the overall debt, which was Rs 51,280 crore.
According to CEO Pieter Elbers, FY24 marked a number of noteworthy successes and turning points for IndiGo, with total revenue reaching an all-time high of around Rs 71,200 crore, a net profit of over Rs 8,200 crore, and a net profit margin of 11.9%.
"The financial results for the fourth quarter were encouraging, resulting in profitability for all four quarters of FY24. We have consistently accomplished the goals that we as a team set for ourselves at the start of the year thanks to the great execution of our plan. "I express my profound appreciation to our 107 million patrons for entrusting us with their business, and to my fellow IndiGo employees for their outstanding efforts and unwavering commitment," he remarked.
In addition, the local airline IndiGo stated in an exchange filing on May 23 that it will provide business class services on its aircraft by the end of 2024. According to the airline's application, the business and busiest routes will offer the premium class travel option. The carrier will release further information regarding the deals, launch schedule, and routes in August.
Pieter Elbers, CEO of IndiGo, stated, "We are excited about this new phase and tailored product in IndiGo's evolution and strategy and aim to further give wings to the nation, by connecting people and aspirations."
The low-cost airline IndiGo, operated by Interglobe Aviation Ltd., declared a profit of Rs 1894.8 crore for the quarter ending March 31, 2024, on May 18. This was the company's sixth consecutive quarter of profitability, as robust demand outpaced an increase in fuel prices. The largest low-cost airline based on market share recorded a loss of Rs 1,680 crore in Q4FY22, but had made a net profit of Rs 919 crore the previous year.
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