InterGlobe Aviation, the parent company of IndiGo, posted a profit of ₹919.2 crore for the March quarter as against a loss of ₹1,681.8 crore in the same period last year.
During the quarter under review, the airline's revenue from operations surged 76.5% year-on-year (YoY) to ₹14,160.6 crore as against ₹8,020.7 crore in the same period last year. For the quarter, the airline's passenger ticket revenue grew by 80.6% YoY to ₹12,434.6 crore, whereas ancillary revenues surged by 36.6% YoY to ₹1,445.9 crore.
The company's EBITDA (earnings before income, tax, depreciation and amortisation) stood at ₹2,966.5 crore in Q4 as against ₹171.8 crore in the same period last year.
"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 of 9,192 million rupees," says Pieter Elbers, CEO, IndiGo.
"The companywide initiatives undertaken based on the three strategic pillars of Reassure, Create and Develop enabled us to end the year on a strong note with record revenues. I would like to thank the 86 million customers for choosing to fly with us in the financial year ended March 2023 and the 6E employees for their immense hard-work and dedication," he adds.
On a sequential basis, the airline's PAT, however, declined by 35.4% quarter-on-quarter (QoQ) as against ₹1,422.6 crore in the December quarter of FY23. The company's revenue from operations declined sequentially, by 5.2% quarter-on-quarter as against ₹14,933 crore in the previous quarter.
For the whole year, the airline's net loss stood at ₹305.8 crore. In FY23, the company’s revenue from operations stood at ₹54,446.5 crore as against ₹25,930.9 crore in FY22. The company's EBITDA, during the year under review, stood at ₹7,311.6 crore as against ₹1,148 crore in FY22.
As of March 31, 2023, IndiGo, which is the country's largest airline by market share, had a total cash balance of ₹23,424.3 crore comprising ₹12,194.8 crore of free cash and ₹11,229.5 crore of restricted cash. The airline's total debt (including the capitalised operating lease liability) stood at ₹44,854.2 crore.
As of March 31, 2023, the airline had a fleet of 304 aircraft including 21 A320 CEOs, 162 A320 NEOs, 79 A321 NEOs, 39 ATRs, 2 A321 freighters and 1 B777 (damp lease); which is a net increase of 2 passenger aircraft during the quarter. IndiGo operated at a peak of 1,815 daily flights during the quarter including non-scheduled flights, across 78 domestic destinations and 22 international destinations.
For the first quarter of FY24, the company says that capacity in terms of available seat kilometres (ASKs) is expected to increase by around 5-7% as compared to the fourth quarter of fiscal year 2023.