IndiGo soars high with Q2 net profit of Rs. 189 crore

IndiGo, has announced a net profit of ₹189 crore for the Q2.

IndiGo, has announced a net profit of ₹189 crore for the second quarter ending September 30, 2023. This marks a significant recovery from the loss of ₹1,583.3 crore reported in the corresponding period last year.

The airline’s operational revenue saw an impressive increase of nearly 20%, reaching ₹14,943 crore, a substantial rise from the ₹12,497 crore reported in the previous year. This revenue boost is largely attributed to a marked increase in domestic travel during the quarter.

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IndiGo’s total income for the July-September 2023 period saw a 20.6% jump to ₹15,502.9 crore. The total income for the same period last year was ₹12,852.3 crore.

The company reported a 33.4% increase in passenger numbers during the second quarter ending September 2023, reaching 26.3 million. Additionally, its capacity increased by 27.7%. This is the fourth consecutive quarter of profitable growth for IndiGo, reflecting the successful implementation of its strategies and robust demand.

Pieter Elbers, CEO of IndiGo, expressed his satisfaction with the results, stating, “Despite seasonal fluctuations and external challenges, we are delighted to report another profitable quarter. Our clear strategy and focus on execution have allowed us to complete a full cycle and remain profitable for the last four quarters.”

Elbers further added that the company has continued to expand its network both domestically and internationally, adding 10 new destinations in recent months. This brings the total number of destinations served by IndiGo to 115.