InterGlobe Aviation, the operator of IndiGo, posted a profit of INR 30.906 bn for the quarter ended June 2023, as compared to a net loss of INR 10.64bn in the same period last year.
Revenue from operations rose 29.8% to INR 166.83bn from the year-ago period when the airline had reported a topline of INR 128.55bn.
The surge in revenue was led by a sharp rise in domestic travel during the quarter, as demand for domestic travel in India has continued to surge for the past two quarters.
Sequentially, IndiGo had reported a profit of INR 9.19bn on sales of INR 141.60bn in Q4 FY22-23.
Commenting on the result, chief executive, Pieter Elbers said: “We produced strong operational performance and welcomed the highest number of quarterly passengers which enabled us to generate the highest ever quarterly revenue and net profit for the quarter ended June 2023. In the first quarter of 2023-24 IndiGo placed a new order for 500 aircraft that takes our outstanding order book to c.1,000 aircraft and further strengthens our position for future growth.”
IndiGo’s passenger ticket revenue stood at INR 16.683bn recording an increase of 29.8% YoY and ancillary revenues at INR 0.477bn nearly tripled when compared to the same period last year.
At the operating level, the airline reported earnings before interest, tax, depreciation, amortisation and rent cost (EBITDAR) profit or consolidated operating profit for the quarter came in at INR 52.10bn as against an operating profit of INR 7.179bn in the same time last year.
IndiGo’s available seat kilometres rose 19% on a year-on-year basis to 32.7 billion, while revenue passenger kilometres surged 32% on-year to 29 billion.
The load factor stood at 88.6% at the end of the June quarter as against 79.6% a year-ago.
The company's total debt rose 18% on year to INR 462.91 bn in the June quarter, while total cash rose by 43.7 percent to Rs 27,400 crore, including free cash of INR 156.91bn.
IndiGo had 316 aircraft in its fleet at the end of the quarter, up from 304 in the previous quarter. IndiGo operated at a peak of 1,873 daily flights during the quarter including non-scheduled flight