InterGlobe Aviation, the parent company of Indigo, has reported 1000% rise in net profit to INR 14.26 bn for the December 2022 quarter. This is against a net profit of INR 1.29bn in same period in 2021.
The revenue from operations rose by 61% to INR 149.32 bn in the December quarter from INR 92. 94 bn in the year ago period.
IndiGo had posted a loss of INR 15.83 bn in last quarter ending September 2022.
Pieter Elbers, CEO, IndiGo said: "Third quarter performance was strong both operationally and financially in the backdrop of robust demand for air travel. The wide range of initiatives that were set in motion across the organisation have started to yield results. With a modern fleet of over 300 aircraft, we continue to serve the market with further capacity growth planned across domestic and international sectors.”
The airline posted an increase of 63% in passenger ticket revenue closing at INR 131.62 bn and increase of 24% in the ancillary revenue closing the quarter at 14.22 bn as compared to the same time last year.
The airline’s total expenses were INR 139.86 bn showing an increase of 49.6% over the same time in 2021.
The load factor or the passenger carrying capacity improved by 5.4 points to 85.1%, IndiGo said in its filing.