New Delhi: InterGlobe Aviation Ltd, the parent company of India's largest budget airline IndiGo, on February 2 reported strong financial results for the third quarter ended December 2023 as more people took to the skies. According to the results, the company posted a net profit of Rs 2,998.1 cr, representing a massive 110.7% increase compared to the same quarter last year.
During the quarter under review, revenue from operations increased by 30.26 per cent to Rs 19,452 crore from Rs 14,933 crore in the same period last fiscal. The total income jumped to Rs 20,062.2 crore from Rs 15,410.2 crore in the year-ago period, the airline said. According to a spokesperson, the airline carried 243.10 lakh passengers, commanding a market share of 62.1 percent during the quarter.
In the year-ago period, IndiGo carried 199.70 lakh passengers commanding a market share of 55.7 percent. "For the third quarter of financial year 2024, we reported a profit after tax of 30 billion rupees with a profit after tax margin of 15.4%. With these 5 consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again", said IndiGo CEO Pieter Elbers.
He further said that "this series of profitable growth is attributable to the confidence shown by passengers who chose to fly with us. We are grateful for our customers’ confidence and our thousands of employees who continue to put their best foot forward each day to serve them." "The year 2023 was marked by numerous milestones.
We served 100 million plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations. Each achievement is a testament to our focused strategy, loyalty of our customers and dedication of 6E employees", he added.
The airline further said that it guided for around 12% capacity increase in terms of Available Seat Kilometers (ASKMs) during the January-March 2024 quarter compared to the same period last fiscal.
