IndiGo Airline Net Profit Doubles to Rs 1,894.8 Crore for January-March Quarter of 2023–24 From Last Year’s Rs 919 Crore

New Delhi, May 23: Interglobe Aviation Ltd, the parent company of leading low-cost airline IndiGo, on Thursday, reported a two-fold jump in net profit to Rs 1,894.8 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 919 crore for the same quarter last year, flying into its sixth straight quarter in green, as strong demand outweighed fuel price hike.

The biggest budget airline by market share had posted a net profit of Rs 919 crore in the year-ago period but had reported a loss of Rs 1,680 crore in Q4FY22. The airline’s revenue from operations grew 26 per cent to Rs 17,825.3 crore during the fourth quarter from Rs 14,161 in the same period of the previous year. Paytm Launches New Ad Campaign To Enhance User Engagement, Promote Its Core Payment Solutions for Consumer and Merchants.

The carrier's EBITDAR (earnings before interest, tax, depreciation, amortisation and rent) jumped to Rs 4,412.3 crore as against Rs 2,966.5 crore a year back, while its margin increased to 24.8 per cent from 20.9 per cent. The airline’s passenger carrying capacity being utilised, improved by 2.1 percentage points to 86.3 per cent. Thierry Delaporte, Former Wipro CEO and MD, Becomes Highest-Paid Exec in Indian IT Industry for FY24, Earns More Than Rs 165 Crore.

IndiGo CEO Pieter Elbers said FY24 was a year of many remarkable achievements for the company as his company as it logged its highest-ever total income of around Rs 71,200 crore with a net profit of around Rs 8,200 crore and a net profit margin of 11.9 per cent. "The 4th quarter financial results were positive, making all four quarters in FY24 profitable," he added.

(The above story first appeared on LatestLY on May 23, 2024 07:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).