Business
Bumper Q3 travel: IndiGo reports highest ever quarterly revenue & profit at Rs 15,410cr & Rs 1,423cr
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NEW DELHI: India’s biggest domestic airline IndiGo has reported its highest-ever quarterly profit and revenue in the bumper October-December 2022 travel period.
While its profit this Q3 was Rs 1,422.6 crore — up 996% from Rs 129.8 crore in same period last year — the total income was at Rs 15,410.2 crore — 62.6% high than Rs 9,480.1 crore last Q3.
Before this Q3, the airline had reported its highest ever revenue and profit was Rs 9,786 crore and Rs 1,203 crore, respectively, in April-June 2019 as a result of Jet Airways getting grounded and other airlines getting higher loads at higher fares. IndiGo stock closed at Rs 2,098.55 on Friday BSE, when the broader market ended 1.5 higher.
The October-December 2022 period has been a bumper travel period with high airfares and hotel tariffs — much more than pre-Covid times. As a result, listed travel companies are reporting their highest ever revenue and profit in this Q3. These include biggies like Taj Hotels and MakeMyTrip. Vistara, which started flying in January 2015, saw its first profitable quarter in this period.
IndiGo CEO Pieter Elbers said: “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 organization have started to yield results. I am proud to report the highest-ever quarterly revenue of 154.1 billion rupees and robust profit of 14.2 billion rupees 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.”
IndiGo’s total cash balance as on December 31, 2022, was Rs 21,924.7 crore, comprising Rs 10,612.5 crore of free cash and Rs 11,312.1 crore of restricted cash. On the same date, its capitalised operating lease liability was Rs 41,042 crore and the total debt (including capitalised operating lease liability) was Rs 44,475.2 crore.
IndiGo, which has nearly 56% domestic market share, ended last calendar year with a fleet on 302 of 302 aircraft including 183 Airbus A320s, 78 A321 NEOs, 39 ATRs and two A321 freighter — a net increase of 22 passengers and 1 freighter aircraft during the quarter.
It operated a peak of 1,685 daily flights during the quarter including non-scheduled flights. The airline’s network spanned across 75 domestic and 22 international destinations in Q3.
While its profit this Q3 was Rs 1,422.6 crore — up 996% from Rs 129.8 crore in same period last year — the total income was at Rs 15,410.2 crore — 62.6% high than Rs 9,480.1 crore last Q3.
Before this Q3, the airline had reported its highest ever revenue and profit was Rs 9,786 crore and Rs 1,203 crore, respectively, in April-June 2019 as a result of Jet Airways getting grounded and other airlines getting higher loads at higher fares. IndiGo stock closed at Rs 2,098.55 on Friday BSE, when the broader market ended 1.5 higher.
The October-December 2022 period has been a bumper travel period with high airfares and hotel tariffs — much more than pre-Covid times. As a result, listed travel companies are reporting their highest ever revenue and profit in this Q3. These include biggies like Taj Hotels and MakeMyTrip. Vistara, which started flying in January 2015, saw its first profitable quarter in this period.
IndiGo CEO Pieter Elbers said: “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 organization have started to yield results. I am proud to report the highest-ever quarterly revenue of 154.1 billion rupees and robust profit of 14.2 billion rupees 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.”
IndiGo’s total cash balance as on December 31, 2022, was Rs 21,924.7 crore, comprising Rs 10,612.5 crore of free cash and Rs 11,312.1 crore of restricted cash. On the same date, its capitalised operating lease liability was Rs 41,042 crore and the total debt (including capitalised operating lease liability) was Rs 44,475.2 crore.
IndiGo, which has nearly 56% domestic market share, ended last calendar year with a fleet on 302 of 302 aircraft including 183 Airbus A320s, 78 A321 NEOs, 39 ATRs and two A321 freighter — a net increase of 22 passengers and 1 freighter aircraft during the quarter.
It operated a peak of 1,685 daily flights during the quarter including non-scheduled flights. The airline’s network spanned across 75 domestic and 22 international destinations in Q3.
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