IndiGo Q4: Net Profit Soars Over 100 Per Cent YoY, Revenue Rises 26 Per Cent
The airline stated that its capacity increased 14.4 per cent in the quarter under review, while it saw a 14 per cent rise in passengers, both on a YoY basis.
Interglobe Aviation Ltd reported a climb of 106 per cent in its net profit on a year-on-year (YoY) basis in its fourth quarter (Q4) earnings on Thursday. The firm that operates carrier IndiGo logged a net profit of Rs 1,894.8 crore for the March quarter in the 2023-24 financial year (FY24) against a net profit of Rs 919.2 crore in the fourth quarter of the previous 2022-23 fiscal year (FY23).
The conglomerate clocked a jump of 26 per cent in its revenue from operations for Q4FY24 on a year-on-year basis. It posted a revenue of Rs 17,825.3 crore for the quarter under review against its Q4 revenue of Rs 14,160.6 crore for FY23.
Elaborating on the results, Pieter Elbers, CEO, said, “FY24 has been a year of many remarkable achievements and milestones. For the full financial year 2024, we reported our highest ever total income of around 712 billion rupees with a net profit of around Rs 82 billion and a net profit margin of 11.9 per cent. The 4th quarter financial results were positive, making it all four quarters in FY24 profitable. The strong execution of our strategy has yielded consistent results for us as we achieved the targets that we had set for ourselves as a team at the beginning of the year. My sincere gratitude to our 107 million customers for placing their trust in us and to all my IndiGo colleagues for their great work and relentless dedication.”
The airline stated that its capacity increased 14.4 per cent in the quarter under review, while it saw a 14 per cent rise in passengers, both on a YoY basis.
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New Launch Announced
The airline also revealed that it plans to launch a new luxury service on the business routes in the country. “Over the past 18 years, India’s and IndiGo’s growth story have been closely interlinked. We believe as India gears up to become the third largest economy in the world, it’s our privilege to provide the New India even more options to choose from as they travel business. We are excited with this new phase and tailor-made product in IndiGo’s evolution and strategy and aim to further give wings to the nation, by connecting people and aspirations,” Elbers shared. The new service from the airline will be unveiled in August on the anniversary of the carrier.
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