New Delhi: IndiGo on Friday reported its highest ever quarterly profit of Rs 1,423 crore for the October-December quarter, an increase of about 1,000% on a yearly basis. The previous highest profit for the company was Rs 1,203 crore in the April-June quarter of the 2019-20 fiscal.
The company had posted a loss of Rs 1,583 crore in the July-September 2022 period amid post-Covid supply-chain disruptions, high fuel prices and exchange rate volatility.
The company’s revenue from operations increased by 60.7% to Rs 14,933 crore as against Rs 9,294 crore in the year ago quarter, the company said in a statement.
“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 organization have started to yield results,” the company’s CEO Pieter Elbers said.
He added: “I am proud to report the highest ever quarterly revenue of 154.1 billion rupees and robust profit of 14.2 billion rupees for the third quarter of fiscal year 2023…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 total income for the quarter ended December 2022 stood at Rs 15,410 crore, an increase of 62.6% over Rs 9,480 crore in the same period last year. IndiGo said that for the quarter, its passenger ticket revenues were Rs 13,162 crore, an increase of 63% and ancillary revenues were Rs 1,422 crore, an increase of 24.6% compared to October-December 2021 quarter.
As of December 31, 2022, the company had a fleet of 302 aircraft including 23 A320 CEOs, 160 A320 NEOs, 78 A321 NEOs, 39 ATRs and 2 A321 freighter; a net increase of 22 passenger and 1 freighter aircraft during the quarter. The company added that during the quarter, IndiGo operated at a peak of 1,685 daily flights, including non-scheduled flights. IndiGo provided scheduled services to 75 domestic destinations and 22 international destinations during the quarter, it added.