Aviation Top Stories

IndiGo records highest ever quarterly profit of INR 3,090 crore in June

InterGlobe Aviation has reported a record profit after tax of INR 3,090.6 crore in the three months ended June.

IndiGo reported its highest-ever quarterly total income of INR 17,160.9 crore in the first quarter of the current fiscal, according to a release.

The carrier had registered a loss of INR 1,064.3 crore in the 2022 June quarter.

In a release, the airline said in the latest June quarter, it had the highest-ever quarterly profit of INR 3,090.6 crore and that “reflects strong operational performance, execution of our strategy and favourable market conditions”.

Total income or revenues stood at INR 13,018.8 crore in the three months ended June 2022.

“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,” Pieter Elbers, CEO, IndiGo said.

In the 2023 June quarter, the carrier’s fuel costs declined 12.7 per cent to INR 5,228.1 crore, while the total expenses marginally fell to INR 14,070.1 crore.

“Second quarter of fiscal year 2024 capacity in terms of available seat kilometers (ASKs) is expected to increase by around 25 per cent as compared to the second quarter of fiscal year 2023,” the release said.

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