IndiGo Reports Record Quarterly Profit in Its History

InterGlobe Aviation, the parent company of IndiGo Airlines, announced a historic quarterly net profit of Rs 1,422 crore for Q3 of FY23, leading brokerage firms to increase their one-year stock target price for the company.

IndiGo airline recorded a profit of Rs 20,091 million for the quarter ending December 2022, excluding foreign exchange loss. Including the foreign exchange loss of Rs 5,8650 million (Rs 586.5 crore), the airline reported a net profit of Rs 1,422 crore for the quarter, a significant increase from the previous year’s net profit of Rs 1,298 million (Rs 129.8 crore). This marks a growth of over 10 times compared to the same period last year.

The parent company of IndiGo Airlines, InterGlobe Aviation Ltd, reported a total income of Rs 154,102 million for the quarter ending December 2022, which represents a 62.6% increase compared to the same period in the previous year.

During the quarter ending December 2022, passenger ticket revenues rose by 63% to reach Rs 131,624 million, while ancillary revenues grew by 24.6% to Rs 14,222 million compared to the same period in the previous year.