IndiGo reports net profit of Rs 1,422 crore in Q3

New Delhi, Feb 3 IndiGo airline reported a profit of Rs 20,091 million excluding foreign exchange loss for the quarter ending December 2022. The airline reported a net profit for the quarter aggregated to Rs 1,422 crore including foreign exchange loss of Rs 5,865 million (Rs 586.5 crore).

The airline reported a net profit of Rs 1,422 crore, compared to net profit of Rs 1,298 million (Rs 129.8 crore) as compared to the same period last year marking over 10 times growth.

As per the results declared by InterGlobe Aviation Ltd on Friday, total income for the quarter ended December 2022 was Rs 154,102 million, an increase of 62.6 per cent over the same period last year.

For the quarter, passenger ticket revenues were Rs 131,624 million, an increase of 63 per cent and ancillary revenues were Rs 14,222 million, an increase of 24.6 per cent compared to the same period last year.

The company's CEO, Pieter Elbers 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. I am proud to report the highest ever quarterly revenue of Rs 154.1 billion and robust profit of Rs 14.2 billion for the third quarter of fiscal year 2023. We are thankful to our customers and all IndiGo employees who enabled us to achieve this performance. With a modern fleet of over 300 aircraft, we continue to serve the market with further capacity growth planned across domestic and international sectors."

For the quarter ended December 31, 2022, compared to the same period last year, Indigo's capacity increased by 25.3 per cent and passenger numbers increased by 25.8 per cent to 22.3 million.

As of December 31, 2022, IndiGo had a total cash balance of Rs 219,247 million comprising Rs 106,125 million of free cash and Rs 113,121 million of restricted cash.

The capitalised operating lease liability was Rs 410,420 million. The total debt (including the capitalised operating lease liability) was Rs 444,752 million.

Similarly, as of December 31, 2022, Indigo has a fleet of 302 aircraft including 23 A320 CEOs, 160 A320 NEOs, 78 A321 NEOs, 39 ATRs and two A321 freighter; a net increase of 22 passenger and 1 freighter aircraft during the quarter.

IndiGo operated at a peak of 1,685 daily flights during the quarter including non-scheduled flights.

IndiGo provided scheduled services to 75 domestic destinations and 22 international destinations during the quarter.