IndiGo parent posts 1,000% jump in profit to Rs 1,422.6 crore in December quarter

NEW DELHI: InterGlobe Aviation, the parent of the country’s largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel.

The company had a Profit After Tax (PAT) of Rs 129.8 crore in the same period a year ago.

IndiGo’s total income jumped to Rs 15,410.2 crore in the third quarter of the current fiscal, from Rs 9,480.1 crore in the year-ago period, according to a release.

“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 organisation have started to yield results,” IndiGo CEO Pieter Elbers said.

He also said the company reported its highest-ever quarterly revenue of Rs 154.1 billion and robust profit of Rs 14.2 billion 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,” he said.
Shares of IndiGo declined 1.21 per cent to close at Rs 2,100 apiece on the BSE.

Source: Press Trust of India

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