IndiGo Q3 Results: Airline Back In The Black, Logs Net Profit Of Rs 130 Crore

The company’s revenue from operations rose 90 per cent to Rs 9,295 crore as against Rs 4,910 crore in Q3FY21

New Delhi: InterGlobe Aviation, which operates India’s biggest airline IndiGo, logged a net profit of Rs 130 crore on Friday for the quarter ended December 31, 2021 (Q3).

The airline reported a loss of Rs 620 crore in the year-ago quarter. The rebound in travel demand during the holiday season, though fuel costs surged, fetched good numbers this time.

The company’s revenue from operations rose 90 per cent to Rs 9,295 crore as against Rs 4,910 crore in Q3FY21.

In a stock exchange filing, InterGlobe Aviation said, “The Board of Directors have unanimously approved the appointment of Rahul Bhatia, currently a non-executive director, as the managing director of the company effective from February 4, 2022.”

IndiGo said its fuel cost in Q3FY22 was at Rs 3,269 crore, up 64 per cent on a sequential basis and a 184 per cent jump on an annual basis.

Total debt of the company as of the end of the third quarter was at Rs 35,153 crore, up 27 per cent on an annual basis, said the company, which expects Q4FY22 capacity to reduce by around 15 per cent as against Q3FY22.

According to news report, commenting on the quarterly results, IndiGo’s CEO Ronojoy Dutta said, “I am pleased that we were able to report a profit for the third quarter. It demonstrates that our business model is fundamentally strong. Our employees have remained a pillar of strength throughout this health crisis and have steadfastly provided superior service to our customers.”

On Friday, InterGlobe Aviation’s share on the BSE closed 1.5 per cent higher at Rs 1,969.