December 7, 2022

IndiGo reports first quarterly profit since pandemic

IndiGo posted a net profit of Rs 129.8 crore in the quarter ended December 2021, compared to a loss of Rs 620.1 crore in the corresponding period a year ago.

IndiGo’s operating revenue jumped to Rs 9,294.8 crore in the last quarter of December from Rs 4,910 crore in the same period a year ago.

Total revenue jumped 84.3% on an annual basis to Rs 9,480.1 crore in the third quarter of the current fiscal year. For the quarter, IndiGo’s passenger ticket revenue was Rs 8073.1 crore, an increase of 98.4% and ancillary revenue was Rs 1141.7 crore, an increase of 41.3% on at the same time last year.

In a significant development, the company has appointed its co-founder Rahul Bhatia as chief executive with immediate effect and he would oversee all aspects of the airline.

“I am pleased that we were able to report a profit for the third quarter. This demonstrates that our business model is fundamentally sound. Our employees have remained a pillar of strength throughout this health crisis and have consistently provided excellent service. superior to our customers,” Ronojoy Dutta, CEO of IndiGo, said.

As of December 31, 2021, IndiGo’s fleet comprised 283 aircraft including 56 A320 CEO, 140 A320 NEO, 52 NEO A321 and 35 ATR; a net increase of 4 aircraft during the quarter. The carrier operated a peak of 1,574 daily flights during the quarter, including non-scheduled flights. During the quarter, provided scheduled services to 71 domestic destinations and various international locations through charter and bubble flights.