InterGlobe Aviation Q1 results: Profit at Rs 3,091 crore; total income up 32%

InterGlobe Aviation (IndiGo) on Wednesday said its quarterly profit after tax hit a record high of Rs 3,090.60 crore in the June quarter compared with a loss of Rs 1,064.30 crore in the corresponding quarter last year. Total income for the quarter came in at Rs 17,160.90 crore which was the highest ever, the airline said in a BSE filing, adding that its results reflect strong operational performance, execution of strategy and favorable market conditions.

The numbers were also aided by other income, which stood at Rs 477.80 crore against Rs 163.50 crore YoY.

Total income was up 31.8 per cent on year-on-year basis over Rs 13,018.80 crore in the same quarter last year. InterGlobe Aviation said its passenger ticket revenues stood at Rs 14,995.60 crore, an increase of 30.8 per cent. Ancillary revenues stood at Rs 1548.40 crore, up 20.4 per cent YoY.

CEO Pieter Elbers said that his company was pleased to report a solid start to the year building on the positive momentum from the last two quarters.

"We produced strong operational performance and welcomed the highest number of quarterly passengers which enabled us to generate the highest ever quarterly revenue and net profit for the quarter ended June 2023. During this quarter, we placed a new order for 500 aircraft that takes our outstanding order book to c.1,000 aircraft and further strengthens our position for future growth," Elbers said.

IndiGo said it had a total cash balance of Rs 27,400 crore comprising Rs 15,691 crore of free cash and Rs 11,7,09 crore of restricted cash

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