IndiGos net profit at Rs 919 crore in March quarter revenue jumps 76.5%
IndiGo operator Interglobe Aviation Ltd on Thursday reported a profit of Rs 919.2 crore in the March quarter, as compared to a net loss of Rs 1,682 crore in Q4FY22. The airline company's profit fell 35 per cent quarter-on-quarter from Rs 1,422.6 crore in the December quarter. The company, which is India's biggest airline by market share, reported that its revenue from operations jumped 76.53 per cent year-on-year to Rs 14,160 crore in the March quarter, from Rs 8,021 crore in the same period a year ago. For the year ended March 2023, IndiGo reported a profit of Rs 26,540 million (Rs 2,654 crore), excluding foreign exchange impact. IndiGo reported a net loss of Rs 3,058 million (Rs 305.8 crore) after including the foreign exchange impact. In a release, the company said, "The profits of the third and the fourth quarters largely compensated for the losses incurred in the first and the second quarters." IndiGo CEO Pieter Elbers said, "With a combination of robust market demand and focused execution of our strategy, this was the second consecutive quarter wherein we produced strong operational and financial results, as we reported the highest ever fourth quarter net profit."
Thursday, May 18, 2023 at 10:45 am