IndiGo Experiences Triple-Digit Growth in Profitability

IndiGo has today reported a strong profit in the third quarter, which is the fifth consecutive quarter in a row for this.

The Indian carrier continues to make waves in the country through the addition of new aircraft and new routes into it’s operation.

Without further ado, let’s get into it…

IndiGo Soars Into Strong Profit in the Third Quarter…

Net profit for IndiGo was recorded at INR 29,981 million for the quarter ending on December 31, 2023, a 110.7% increase compared to the same period last year.

Revenues were recorded at INR 194,521 million, which is a 30.3% increase compared to the same period last year as well.

Passenger numbers increased by 23.4% to 27.5 million. Load factors rose by 0.7% to 85.8%, with operational performance recorded at 99.91% and an on-time performance rate of 78%.

IndiGo CEO Pieter Elbers had this to say on what has been a very successful quarter for the carrier:

“For the third quarter of financial year 2024, we reported a profit after tax of 30 billion rupees with a profit
after tax margin of 15.4%.”

“With these 5 consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again.”

“This series of profitable growth is attributable to the confidence shown by passengers who chose to fly with us.”

“We are grateful for our customers’ confidence and our thousands of employees who continue to put their best foot forward each day to serve them.”

“The year 2023 was marked by numerous milestones. We served 100 million plus passengers in a calendar
year and joined the select club of global carriers operating at this scale.”

“We started operating 2,000 plus daily flights to 118 destinations. Each achievement is a testament to our focused strategy, loyalty of our customers and dedication of 6E employees.”

All eyes will be on how the final quarter looks for IndiGo, as well as what 2024 will look like for them overall.