EBITDAR (Earnings before interest, tax, depreciation, amortisation and rent) zoomed to Rs 5,210.9 crore in Q1 FY24 from Rs 716.9 crore posted in Q1 FY23. EBITDAR margin in the first quarter improved to 31.2% as compared with 5.6% reported in the corresponding quarter last year.

The number of passengers in Q1 FY24 increased by 30.1% to 26.2 million as against 20.1 million registered in Q1 FY23.

During the quarter, passenger ticket revenues stood at Rs 14,995.6 crore, an increase of 30.8% and ancillary revenues was Rs 1,548.4 crore, an increase of 20.4% compared to the same period last year.

Available seat-kilometer (ASK) rose 18.8% to 32.7 billion in Q1 FY24 from 27.5 billion posted in Q1 FY23. Revenue passenger-kilometer (RPK) jumped 32.3% to 29 billion in Q1 FY24 over 21.9 billion reported in the same quarter last year.

As of 31 March 2023, Indigo had a total cash balance of Rs 27,400 crore, comprising Rs 15,691.1 crore of free cash and Rs 11,709 crore of restricted cash. The capitalized operating lease liability was Rs 43,086.2 crore. The total debt (including the capitalized operating lease liability) was Rs 46,291.9 crore.

IndiGo operated at a peak of 1,873 daily flights during the quarter including non-scheduled flights.

Pieter Elbers, chief executive officer (CEO), said, “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.”

InterGlobe Aviation (IndiGo) is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, and a courteous, hassle-free travel experience. It had a fleet of 316 aircraft as of 30 June 2023.

The scrip declined 0.18% to currently trade at Rs 2,565.75 on the BSE.