Indigo Q1 Results: Indigo Posts Record Profit Of 3090 Crore Rupees In Q1 FY24

Indigo Q1 Results: The biggest domestic airlines of the country have benefited from skyrocketing airfares and cancellation of GoFirst flights during the summer holiday season. The country’s InterGlobe Aviation, which flies under the name Indigo, has announced the results of the first quarter of 2023-24. And in the first quarter of the last financial year, where the airlines suffered losses, in the first quarter of April to June of the current financial year, the airlines made a record profit of Rs 3090.6 crore.

According to the results announced by Indigo, it has made a profit of Rs 3090.6 crore for the first quarter, while there was a loss of Rs 1064.2 crore in the first quarter of 2022-23. Between January and March, the fourth quarter of the 2022-23 financial year, the airlines had a profit of Rs 919.8 crore. That is, there has been a 236 percent jump in profit in the current quarter as compared to the previous quarter.

IndiGo’s sales for the April-June quarter stood at Rs 16,683 crore, a growth of 29.7 per cent over the same quarter last fiscal, driven by high air fares, strong tourist inflow and weak competition following the closure of GoFirst. Sales of Rs 12,855.3 crore were seen in the same quarter of the last financial year. Indigo’s revenue has been Rs 17,160.9 crore in this quarter, which is a record.

Indigo’s passenger ticket revenue in this quarter has been Rs 14,995.6 crore, an increase of 30.8 percent. The total expenditure of the company has been Rs 14,070.1 crore. Even after a huge fall in the Indian stock market on Wednesday, Indigo’s stock closed at Rs 2,666 with a gain of 3.7 per cent.

IndiGo CEO Peter Albers said on the results that, we have delivered strong operational performance as well as welcomed the highest number of passengers in this quarter. Due to this, we have been helped in generating maximum revenue and net profit in the quarter ending June 2023. He said that during the quarter, we have placed a new order for 500 aircraft which takes our aircraft order book to 1,000 aircraft which will further strengthen our position for the future.