For the quarter, passenger ticket revenues were Rs 5,322.47 crore, an increase of 21.8% and ancillary revenues were Rs 700.13 crore, an increase of 20.9% compared to the same period last year. Total expenses for the quarter ended December 2017 were Rs 5,378.19 crore, an increase of 18% over the same quarter last year. CASK excluding fuel was Rs 1.94, an increase of 2.2% over the same quarter last year.

Commenting on the quarter performance, Mr. Aditya Ghosh, President and Whole-time Director of the Company, said "I am pleased to report a profit after tax of Rs 7.6 billion for the quarter. At the same time, I am happy to announce that we delivered on our promise of starting our regional operations with our ATR aircraft which will enable us to provide connectivity to many more cities in India. Last quarter was also special to us because we carried our 200 millionth customer and now operate more than a thousand flights a day! I am also happy to state that IndiGo has been ranked as one of the top 5 mega airlines globally in terms of On-time performance. These milestones reaffirm IndiGo's commitment of providing our fliers with an on-time, hassle free experience at low fares, always. I am deeply grateful to all my hardest working colleagues, our partners and most importantly, the millions of customers who choose IndiGo."

Network and fleet

As of 31st December 2017:

• Fleet of 153 aircraft including 32 A320neos and 3 ATRs; an increase of 12 aircraft during the quarter.
• Operated a peak of 1,020 daily flights including international operations during the quarter.
• Service to 46 destinations including 7 international cities.

Operational achievements

• For the period October-December 2017, the Company had a Technical Dispatch Reliability of 99.87%, on-time performance of 81.8% at four key metros and flight cancellation rate of 0.34%.
• Ranked No.1 in on-time performance for the quarter.
• Ranked as one of the top 5 airlines amongst the top 20 mega airlines globally for on-time performance for the year 2017 by OAG.

Quarterly Performance

The total income from operation inclined 24% to Rs 6,177.88 crore for the third quarter ended December 2017. For the quarter, passenger ticket revenues were Rs 5,322.47 crore, an increase of 21.8% and ancillary revenues were Rs 700.13 crore, an increase of 20.9% compared to the same period last year.

Total expenses for the quarter ended December 2017 were Rs 5,378.19 crore, an increase of 18% over the same quarter last year. CASK excluding fuel was Rs 1.94, an increase of 2.2% over the same quarter last year. OPM has expanded by 350 bps to 16%.

As percentage to sales and net of stock adjustments, aircraft fuel expenses decreased 100 bps to 32.8%, while Aircraft & engine lease rentals cost shed 110 bps to 15.4%, other expenses dropped 80 bps to 25.7%, and employee cost fell 70 bps to 10%. Thus, expansion in OPM leads to jump in OP by 59% to Rs 991.51 crore. Profitability for the quarter was favorably impacted due to better revenue management as well as credits received from manufacturers.

Other income inclined 58% to Rs 271.91 crore, thus, the PBDIT rose 59% at Rs 1,263.42 crore. With 11% jump in interest cost to Rs 84.44 crore but drop in depreciation cost by 9% to Rs 107.38 crore, the Profit Before Tax (PBT), as a result, grew by 78% to Rs 1,071.60 crore. The tax outgo increased 169% to Rs 309.57 crore, as the effective tax rate increased 980 bps to 28.9% during the quarter. Thus, net profit for the quarter stood at Rs 762.03 crore, up 56% from Rs 487.26 crore in corresponding previous quarter.

For Nine Months ended December 2017, the total income from operation inclined 25% to Rs 17,221.77 crore for the nine month ended December 2017. Operating margin (OPM) has increased by 450 bps to 16.4%, thus, gain in OPM leads to incline in Operating Profit (OP) by 73% to Rs 2,826.67 crore. Other income inclined 39% to Rs 689.13 crore, thus, the PBDIT gained 65% at Rs 3,515.80 crore. With 2% drop in interest cost to Rs 247.08 crore and 12% drop in depreciation cost to Rs 308.24 crore, the Profit Before Tax (PBT), as a result, grew 94% to Rs 2,960.47 crore. The tax outgo gained 173% to Rs 835.74 crore. Effective tax rate grew 810 bps to 28.2%. Thus, net profit jumped 74% to Rs 2,124.73 crore.

Annual Financial Performance

For the financial year ended March 2017 (FY 2017), the total income from operation inclined 15% to Rs 18580.50 crore. Operating margin (OPM) has decreased by 780 bps to 11.5%, thus, loss in OPM leads to decline in Operating Profit (OP) by 31% to Rs 2143.30 crore. Other income inclined 53% to Rs 789.07 crore, thus, the PBDIT declined 19% at Rs 2932.37 crore. With 9% jump in interest cost to Rs 330.78 crore but 10% drop in depreciation cost to Rs 457.25 crore, the Profit Before Tax (PBT), as a result, fell 24% to Rs 2144.34 crore. The tax outgo dropped 42% to Rs 485.15 crore. Thus, net profit slid 16% to Rs 1659.19 crore.

• As of 31st December 2017, IndiGo had a total cash balance of Rs 138,873.54 million comprising of Rs 80,978.19 million of free cash and INR 57,895.35 million of restricted cash.

• The total debt as on 31st December 2017 was Rs 24,326.35 million. The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt.

• Fourth quarter fiscal 2018 year over year capacity increase in ASKs is expected to be 24%.

The scrip hovers around Rs 1,237.90 (24^th January 2018) on the BSE.