IndiGo Caps Off a Year of Solid Performance in FY24

An IndiGo Airbus A321 climbs after takeoff.
Md Shaifuzzaman Ayon, CC BY-SA 4.0, via Wikimedia Commons

IndiGo has capped off a remarkable fiscal year with another quarter of strong financial performance.

This success can be attributed to a combination of strategic initiatives and a supportive external environment.

Profitability FY2024

For the quarter ending March 2024, IndiGo reported a net profit of ₹18,948 crore, a significant increase from ₹9,192 crore in the same period last year.

This positive trend continued throughout the entire fiscal year, with a net profit of ₹81,725 crore compared to a net loss of ₹3,058 crore in FY2023.

This translates to a net profit margin of 11.9% for FY2024, a significant achievement.

Key Performance Indicators Take Off

Key performance indicators (KPIs) across the board reflected the airline’s growth trajectory.

Capacity increased by 21.8% for the year, reaching 139.3 billion passenger kilometers (pax kms). The airline carried 24.7% more passengers, reaching 106.7 million, as capacity increased.

While yield decreased slightly by 1.0%, load factor improved by a healthy 3.8 points to 85.9%, indicating efficient capacity utilization.

CEO: Strategic Execution Delivers Results

Pieter Elbers, IndiGo’s CEO, attributed the company’s success to the strong execution of its strategic plan.

“FY24 has been a year of many remarkable achievements and milestones. For the full financial year 2024, we reported our highest ever total income of around 712 billion rupees with a net profit of around 82 billion rupees and a net profit margin of 11.9%.”

“The 4th quarter financial results were positive, making it all four quarters in FY24 profitable. The strong execution of our strategy has yielded consistent results for us as we achieved the targets that we had set for ourselves as a team at the beginning of the year”

Elbers expressed his gratitude to both customers and IndiGo employees for their trust and dedication, which played a vital role in achieving these milestones.

An IndiGo ATr in flight
Photo Credit: Dylan Agbagni via Wikimedia Commons.

Network and Fleet Expansion

IndiGo continued to expand its network, reaching 88 domestic and 30 international destinations during the quarter.

The fleet grew by nine passenger aircraft, reaching a total of 367 by March 31, 2024. The airline also maintained impressive operational efficiency.

It boasted a Technical Dispatch Reliability of 99.91% and an on-time performance of 71.4% at four major metros.

An IndiGo Airbus A320neo climbs after takeoff.
Photo Credit: High Ridge Aviation

Looking Ahead

IndiGo’s FY2024 performance is a testament to the company’s ability to navigate challenges and capitalize on opportunities.

IndiGo’s focus on strategic execution, network expansion, and operational excellence positions them for continued future success.

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By Len Varley - Assistant Editor 3 Min Read
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