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Business News/ Companies / Company Results/  IndiGo Q1 Results: Airline back-to-black, reports net profit at 3,090 crore, revenue up 30% YoY
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IndiGo Q1 Results: Airline back-to-black, reports net profit at ₹3,090 crore, revenue up 30% YoY

The profit jumped 236% from ₹919.8 crore profit compared to Q4FY23.

File: Indigo VT-INA landingPremium
File: Indigo VT-INA landing

InterGlobe Aviation Limited (Indigo) on Wednesday announced the results for the June quarter and said that it reported a net profit of 3,090 crore for Q1 of financial year 2023-24, and is its highest-ever quarterly net profit.

The low cost airline had reported net loss of 1,064.2 crore in the corresponding period of the previous year (Q1FY23), it said in a regulatory filing. 

Apart from this, the firm said that the profit jumped 236 per cent from 919.8 crore profit compared to Q4FY23.

The net revenue from operations too surged, due to the high ticket prices and weak competition, to 1,668.3 crore, up 29.7 per cent on year, from sales of 1285.53 crore seen in the corresponding period of the previous year (Q1FY23). The total revenue in Q1FY24 was reported at 1,176.09 crore, up 31.8 percent, from 1301.88 crore seen in Q1FY23.

Total expenses for the quarter ended June 2023 were 140,7.01 crore, a decrease of 0.1% over the same quarter last year, the firm said, adding EBITDA of 521.09 crore (31.2% EBITDAR margin) was reported during the period, compared to EBITDA of 71.69  crore (5.6% EBITDAR margin) in Q1FY23.

Pieter Elbers, CEO, said, “I am pleased to report a solid start to the year building on the positive momentum from the last two quarters. 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. During this quarter, we placed a new order for 500 aircraft that takes our outstanding order book to c.1,000 aircraft and further strengthens our position for future growth."

"My deepest gratitude to all our loyal customers and dedicated 6E stars for the progress we have made towards our (new) growth strategy - towards new heights and across new frontiers," he added.

InterGlobe Aviation Limited shares traded 0.18% lower at 2565.75 apiece on the BSE on Wednesday.

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ABOUT THE AUTHOR
Saurav Mukherjee
A business media enthusiast...believe to listen more, than just blabbering like others.
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Published: 02 Aug 2023, 04:28 PM IST
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