Indigo, the low-cost airline under InterGlobe Aviation Limited, disclosed its financial results for the first quarter of the fiscal year 2023-24 on Wednesday. The company reported a remarkable net profit of ₹3,090 crore, marking its highest-ever quarterly net profit.
In the same quarter of the previous year (Q1FY23), Indigo had faced a net loss of ₹1,064.2 crore.
The current profit surge is noteworthy, with a 236% increase from the profit of ₹919.8 crore reported in the fourth quarter of the fiscal year 2022-23 (Q4FY23).
The rise in net revenue from operations is equally impressive, reaching ₹1,668.3 crore, a substantial 29.7% increase YoY, compared to ₹1285.53 crore in the same period of the previous year (Q1FY23).
The total revenue for Q1FY24 was reported at ₹1,176.09 crore, up by 31.8% from ₹1301.88 crore in Q1FY23. This growth can be attributed to higher ticket prices and weaker competition.
The period also recorded an impressive EBITDA of ₹521.09 crore, indicating a 31.2% EBITDAR margin, in contrast to the EBITDA of ₹71.69 crore with a 5.6% EBITDAR margin in Q1FY23.
Additionally, during this quarter, Indigo placed a new order for 500 aircraft, increasing their outstanding order book to approximately 1,000 aircraft, reinforcing their position for future growth.
The shares of the stock closed at Rs.2447.75 on NSE, 4.58% lower than previous close.