IndiGo Reports 18.3% Drop in Q3 Profit to ₹2,448.8 Crore, Revenue Up 13.6%
IndiGo’s operational revenue increased by 13.6% in Q3 FY2024, reaching ₹22,110.7 crore compared to ₹19,452.1 crore in the same quarter last year.
IndiGo Q3 Results: Profit Falls Despite Strong Revenue Growth
IndiGo, India’s leading low-cost airline operated by InterGlobe Aviation, reported its financial results for the third quarter of FY2024, reflecting a mix of challenges and achievements.
Profit Decline Amid Revenue Growth: The airline’s consolidated net profit dropped by 18.32% year-on-year (YoY), settling at ₹2,448.8 crore for the quarter ended December 2023. This is a notable decrease from the ₹2,998.1 crore reported in the same period last year. However, revenue from operations showcased a strong performance, rising 13.6% YoY to ₹22,110.7 crore, compared to ₹19,452.1 crore in Q3 FY2023.
Marginal EBITDA Growth, Lower Margins: IndiGo’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew marginally by 0.7% to ₹5,178.6 crore, up from ₹5,143.6 crore in the year-ago period. Despite this growth, the EBITDA margin slipped to 23.4% from the previous year’s 26%, signaling rising costs or other operational pressures.
Surge in Passenger Traffic and PRASK: Passenger traffic for the quarter surged by 12.7% YoY, with IndiGo carrying 31.1 million passengers. The airline also reported a slight improvement in unit passenger revenue (PRASK), which rose by 0.3% to ₹4.72.
IndiGo CEO: “We Reached a Peak of 2,200 Daily Flights
Pieter Elbers, CEO of InterGlobe Aviation, commented on the Q3 FY2025 earnings, stating, “We delivered a strong performance this quarter, both operationally and financially. Our total income reached ₹230 billion, marking a 15% growth, with a profit of ₹38.5 billion excluding the impact of currency fluctuations. Including the currency impact, our profit stood at ₹24.5 billion, showcasing the effective execution of our well-defined strategy. These results were driven by strong market demand and our ability to meet it, further supported by lower fuel prices.”
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