IndiGo reports 89% surge in revenue from operations to ₹9,294 crore in Q3

IndiGo’s passenger ticket sales increased by 98 percent to 8,073 crore during the quarter, while ancillary income increased by 41 percent to 1,141 crore.

IndiGo has reported a net profit of Rs 130 crore for the December quarter. The result comes after a string of losses for the airline. IndiGo’s stock rose 1.52 percent on Friday, closing at 1,971 on the NSE.

The Gurgaon-based company’s revenue from operations increased by 89 percent to 9,294 crore in the third quarter, compared to 4,909 crore in the same quarter the previous year. For the third quarter ended December, the firm recorded an EBITDAR (earnings before interest, tax, depreciation, amortization, and rent) of 1,995 crore.

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“I am pleased that we were able to report a profit for the third quarter. It demonstrates that our business model is fundamentally strong. Our employees have remained a pillar of strength throughout this health crisis and have steadfastly provided superior service to our customers,” said IndiGo CEO Ronojoy Dutta.

IndiGo’s passenger ticket sales increased by 98 percent to 8,073 crores during the quarter, while ancillary income increased by 41 percent to 1,141 crore. In the meantime, overall costs for the December quarter increased by 62 percent year on year to 9,346 crores.

IndiGo had a total cash balance of 17,318 crores at the end of the December quarter, consisting of 7,814 crores of free cash and 9,504 crores of restricted cash. The capitalized operating lease obligation was 30.764 crore, while the total debt (including the capitalized operating lease liability) was 35.153 crore.