IndiGo's Q3 profit surges 111% to nearly Rs. 3,000 crore
IndiGo's parent company, InterGlobe Aviation Ltd., recorded a 111% YoY increase in net profit during Q3 FY24, reaching Rs. 2,998 crore. In the same quarter last year, it had registered a profit of Rs. 1,422.6 crore. This growth was mainly fueled by the high demand for travel during the festive season. With five consecutive quarters of profit "we continue to recover from the losses of COVID and have now become net worth positive again," the company's CEO Pieter Elbers said.
InterGlobe Aviation's revenue surged 30%
InterGlobe Aviation's Q3 earnings revealed a 30% revenue growth, totaling Rs. 19,452.15 crore and surpassing an estimate of Rs. 18,266 crore. The consolidated operating profit for Q3 FY24 was recorded as Rs. 5,475.1 crore against an operating profit of Rs. 3,399 crore in Q3 FY23. During the quarter that ended December 31, the airline carried 243.1 lakh passengers, translating to a market share of 62.1%. In the same period last year, IndiGo held a market share of 55.7%.
IndiGo's yield improved 2% YoY
InterGlobe Aviation's yield—the average revenue earned per passenger kilometer—rose 2% to Rs. 5.48 in Q3 FY24 from Rs. 5.38 in Q3 FY23. The company's total debt increased by 15.1% YoY to Rs. 51,187.5 crore in Q3. The total cash increased by 47.9% to Rs. 32,428 crore. It had 358 aircraft in the fleet in December quarter, an increase from 334 aircraft in Q2 FY24.
