InterGlobe Aviation on Wednesday reported a record profit after tax of Rs 3,090.6 crore in the June quarter. Tailwinds of strong operational performance and favourable market conditions helped in increasing the profit.
Also, according to a press release, IndiGo recorded its highest-ever quarterly total income of Rs 17,160.9 crore in the first quarter of the current fiscal.
In the 2022 June quarter, the carrier reported a loss of Rs 1,064.3 crore. It had 316 planes in its fleet at the end of June 2023 (including 166 A320 neos, 87 A321 neos, and two planes on wet lease).
The airline stated that in the latest June quarter, it had the highest-ever quarterly profit of Rs 3,090.6 crore. In the three months ended June 2022, total income or revenues stood at Rs 13,018.8 crore.
“We produced strong operational performance and welcomed the highest number of quarterly passengers which enabled us to generate the highest ever quarterly revenue and net profit for the quarter ended June 2023,” IndiGo CEO Pieter Elbers said.
The fuel costs of the airline declined 12.7 per cent to Rs 5,228.1 crore. However, the whole expenses marginally fell to Rs 14,070.1 crore.
“Second quarter of fiscal year 2024 capacity in terms of available seat kilometers (ASKs) is expected to increase by around 25 per cent as compared to the second quarter of fiscal year 2023,” the release said.
The company had a total cash balance of Rs 27,400 crore – Rs 15,691.1 crore of free cash and Rs 11,709 crore of restricted cash.
On BSE, the shares of the company closed almost flat at Rs 2,565.75 apiece.
(With PTI inputs)