IndiGo reports profit for the second consecutive profitable quarter in Q4.- IndiGo has reported a profit in only three out of the last 12 quarters.
- Improvement in load factor and other operational metrics helped IndiGo post a profit in Q4 even as fuel costs increased by an average of 23.5% YoY.
Despite this, IndiGo’s bottomline missed analyst estimates of a net profit of ₹1,418 crore. The airline’s revenue however landed in line with analyst estimates at ₹14,161 crore, growing by 76% YoY.
“With a combination of robust market demand and focused execution of our strategy, this was the second consecutive quarter wherein we produced strong operational and financial results, as we reported the highest ever fourth quarter net profit,” said Pieter Elbers, CEO, InterGlobe Aviation.
IndiGo reported a net profit of ₹1,423 crore and revenue of ₹14,933 crore in Q3.
Rising fuel costs dented IndiGo’s bottomline during the March quarter, with a 23.5% YoY average increase in fuel costs in Q4.
However, an improvement in most of its operational metrics helped the airline post its second consecutive profitable quarter. This is also IndiGo’s only third profitable quarter in the past 12 quarters.
For the full year 2022-23, IndiGo is still in the red, with a loss of ₹306 crore, as against a loss of ₹6,162 crore in FY22.
IndiGo’s Q4 and FY23 in numbers:
Source: Company reports
Most of the operational metrics of IndiGo registered an improvement in the March quarter, both on-year as well as sequential basis.
Load factor is the only metric which saw a marginal decline, sequentially.
Source: Company reports
On an annual basis, however, every metric saw an improvement.
Source: Company reports
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