IndiGo Q3 profit falls 18% to ₹2,449 cr despite 15% revenue growth

Despite reporting growth in revenue amid lower fuel cost for the quarter ended December 2024, IndiGo operator InterGlobe Aviation reported an 18% year-on-year fall in net profit at ₹2,449 crore compared to ₹2,998 crore during the same quarter last year.

An exchange filing by parent InterGlobe Aviation says IndiGo's EBITDAR (earnings before interest, taxes, depreciation, amortisation and restructuring or rent costs) was recorded at ₹6,058.7 crore (27.4% EBITDAR margin) compared to the EBITDAR of ₹5,475.1 crore (28.1% EBITDAR margin) in the same period last year.

India's largest airline saw its total income for the quarter ended December 2024 surge to ₹22,992.8 crore, an increase of 14.6% over the same period last year. For the quarter, the airline's passenger ticket revenues were ₹19,267.8 crore, an increase of 12.3% and ancillary revenues were ₹2,153.1 crore, an increase of 22.3% compared to the same period last year.

IndiGo had a total cash balance of ₹43,780.8 crore comprising ₹28,903.5 crore of free cash and ₹14,877.3 crore of restricted cash. The capitalised operating lease liability was ₹49,593.7 crore and the total debt (including the capitalised operating lease liability) stood at ₹65,138.5 crore.

On the operational front, the airline says its capacity increased by 12.0% to 40.8 billion in the said quarter, while passengers surged 12.7% to 31.1 million. Unit passenger revenue (PRASK) was up by 0.3% to ₹4.72.

Pieter Elbers, CEO, says the airline company delivered a strong third quarter of financial year 2025, both operationally and financially. "We reported a total income of INR 230 billion, reflecting a growth of 15 percent and profit excluding the impact of currency movement of INR 38.5 billion. Including currency impact, we reported a profit of INR 24.5 billion highlighting effective execution of our clear and well-defined strategy."

He says the results were driven by "robust demand in the market and our ability to cater to that demand", supported by lower fuel prices. "We touched new milestones as we operated a peak of 2,200 daily flights and served a record 31.1 million passengers during the quarter. We will continue the growth path to offer our customers with options to conveniently fly to the destination of their choice.”

As of 31st December 2024, the airline had a fleet of 437 aircraft, including 45 A320 CEOs (19 damp lease and 6 secondary leases), 199 A320 NEOs, 128 A321 NEOs, 48 ATRs, 3 A321 freighters, 12 B737 (damp lease) and 2 B777 (damp lease). It reported a net increase of 27 passenger aircraft during the quarter. IndiGo operated at a peak of 2,200 daily flights during the quarter including non-scheduled flights.

InterGlobe Aviation share closed 0.60% higher at ₹4,162.80 on the BSE today.