IndiGo Reports First Quarterly Profit Since Pandemic
Representative image
IndiGo has posted net profit of Rs 129.8 crore in the quarter ended December 2021 as compared to a loss of Rs 620.1 crore during the corresponding period a year ago.
IndiGo’s revenue from operations jumped to Rs 9,294.8 crore in the latest December quarter compared with Rs 4,910 crore in the same period a year ago.
Total income surged 84.3 per cent on an annual basis to Rs 9,480.1 crore in the third quarter of the current fiscal year. For the quarter, IndiGo’s passenger ticket revenues were Rs 8073.1 crore, an increase of 98.4% and ancillary revenues were Rs 1141.7 crore, an increase of 41.3% compared to the same period last year.
In a significant development, the company has appointed its Co-founder Rahul Bhatia as Managing Director with immediate effect and he would oversee all aspects of the airline.
"I am pleased that we were able to report a profit for the third quarter. It demonstrates that our business model is fundamentally strong. Our employees have remained a pillar of strength throughout this health crisis and have steadfastly provided superior service to our customers,” Ronojoy Dutta, CEO, IndiGo, said.
As of 31st December 2021, IndiGo’s fleet comprised 283 aircraft including 56 A320 CEOs, 140 A320 NEOs, 52 A321 NEOs and 35 ATRs; a net increase of 4 aircraft during the quarter. The carrier operated a peak of 1,574 daily flights during the quarter including non-scheduled flights. During the quarter, provided scheduled services to 71 domestic destinations and various international locations through passenger charters and air bubble flights.