The country’s largest airline IndiGo on Friday saw its profit after tax fall 18.3 percent to Rs 2,448.8 crore in the three months ended December 2024, as currency volatility took a toll.
With the increase in the number of passengers and passengers, the carrier’s total revenue jumped 14.6 percent to Rs 22,992.8 crore in the third quarter of the current financial year, according to the release.
In the previous year, the same was Rs 20,062.3 crore.
InterGlobe Aviation is the parent of IndiGo, which flew 31.1 million passengers in the latest December quarter.
In the December 2023 quarter, the carrier had a profit after tax of Rs 2,998.1 crore.
“Driven by strong demand for air travel, continued growth, and low fuel costs, for the quarter ended December 2024, IndiGo reported a strong profit of Rs 38.5 billion, excluding the impact of currency movements on the profit of Rs 30.5 billion during the same period. last year.
“Including the impact of foreign exchange, the net profit for the quarter stood at Rs 24.5 billion,” the release said.
Fuel costs, which comprise the bulk of the airline’s operating expenses, fell 6.1 percent to Rs 6,422.6 crore in the latest December quarter as total expenses rose 19.9 percent to Rs 20,465.7 crore.
“We delivered a strong third quarter for fiscal year 2025, both operationally and financially. We reported total revenue of Rs 230 billion, representing 15 percent growth and profitability, excluding cash flow impact of Rs 38.5 billion.
“Including the impact of currency, we reported a profit of Rs 24.5 billion, highlighting the successful implementation of our clear and well-defined strategy,” said IndiGo CEO Pieter Elbers.
He also noted that these results are driven by strong demand in the market and the ability to meet that demand supported by low fuel prices.
During the December 2024 quarter, the airline’s profit fell by one percent to Rs 5.43 while unit passenger revenue rose by 0.3 percent to Rs 4.72.
For the fourth quarter ending March this year, the airline expects volume in terms of ASKs to increase by about 20 percent compared to the same period last year. ASK stands for Available Seat Kilometer.
At the end of December 31, the company had a total cash balance of Rs 43,780.8 crore, comprising Rs 28,903.5 crore of free cash and Rs 14,877.3 crore of restricted cash.
“The principal lease liability was Rs 495,937 million. The total liability (including capitalized operating lease liability) was Rs 651,385 million,” the release said.
IndiGo’s fleet size stood at 437 aircraft at the end of the December quarter.