Q1 Results: New record: IndiGo reports highest quarterly profit at Rs 3,089 crore for Q1

NEW DELHI: IndiGo on Wednesday reported the highest ever quarterly profit for an Indian carrier at Rs 3089.2 crore in April-June 2023 period. Last Q1, the airline had a loss of 1,056.5 crore. The largest Indian carrier by domestic and international carriage saw its revenue at Rs 17160.8 crore this, up 32% from Rs 13018.8 crore in same period last fiscal. IndiGo’s scrip closed at Rs 2,565.75, down 0.18% on BSE Wednesday when the broader market was own over 1%.

The airline reported total cash at Rs 27,400 crore on June 30, 2023, up 43.7% from Rs 19,069.4 crore last June end. Its debt this June end was Rs 46,291.9 crore, 17.9% more than Rs 39,277.6 crore last June. The airline had 316 aircraft on June 30, 2023, 12 more than last year same time.
IndiGo CEO Pieter Elbers said: “I am 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 (about) 1,000 aircraft and further strengthens our position for future growth. My deepest gratitude to all our loyal customers and dedicated 6E stars for the progress we have made towards our (new) growth strategy – towards new heights and across new frontiers.”