Revenue from operations jumped 30.26% year on year to Rs 19,452.15 crore in the quarter ended 31 December 2023.

Total income for the quarter ended December 2023 was Rs 20,062.25 crore, registering a growth of 30.19% over the same period last year. For the quarter, passenger ticket revenues were Rs 17,157 crore, an increase of 30.3% and ancillary revenues were Rs 1,760 crore, an increase of 23.8% compared to the same period last year.

EBITDAR (Earnings before interest, tax, depreciation, amortisation and rent) climbed 61% to Rs 5,475.1 crore in Q2 FY24 from Rs 3,399 crore posted in Q2 FY23. EBITDAR margin in the December quarter improved to 28.1% as compared with 22.8% reported in the corresponding quarter last year.

For the quarter, the company’s passenger ticket revenues were Rs 17,157.2 crore, up 30.3% and ancillary revenues were Rs 1,760 crore, recording a growth of 23.8% compared to the same period last year.

Total expenses for Q3 FY23 were Rs 17,063.74 crore, up 22% YoY. Aircraft fuel expenses amounted to Rs 6,841.41 crore (up 18.26% YoY) during the quarter.

The company’s passenger count increased by 23.4% to 27.5 million in Q3 FY24 from 22.3 million in Q3 FY23.

Available seat-kilometer (ASK) jumped 26.8% to 36.5 billion in Q3 FY24 from 28.8 billion posted in Q3 FY23. Revenue passenger-kilometer (RPK) jumped 27.8% to 31.3 billion in Q3 FY24 over 24.5 billion reported in the same quarter last year.

Revenue per available seat kilometer (RASK) rose by 1.5% to Rs 5.34 crore in Q3 FY24 from 5.26 crore reported in Q3 FY23. While, cost of available seat kilometer (CASK) stood at Rs 4.52 crore in Q3 FY24, down 5.2% year on year.

As of 31 December 2023, Indigo had a total cash balance of Rs 32,428 crore, comprising Rs 19,199.6 crore of free cash and Rs 13,228.5 crore of restricted cash.

The capitalized operating lease liability was Rs 44,556.5 crore. The total debt (including the capitalized operating lease liability) was Rs 51,187.5 crore in Q3 FY24.

IndiGo operated at a peak of 2,016 daily flights during the quarter including non-scheduled flights.

Explaining its future capacity growth, the company said, “Fourth quarter of fiscal year 2024 capacity in terms of ASKs is expected to increase by around 12% as compared to the fourth quarter of fiscal year 2023.”

Pieter Elbers, CEO of InterGlobe Aviation said, “For the third quarter of financial year 2024, we reported a profit after tax of 30 billion rupees with a profit after tax margin of 15.4%. With these 5 consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again.

We served 100 million plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations.”

InterGlobe Aviation in the low cost carrier (LCC) segment of the airline industry in India. The principal activities of the Company comprises of air transportation which includes passenger and cargo services and providing related allied services including in-flight sales.

Share of InterGlobe Aviation rose 1.94% to settle at Rs 3,127 on Friday, 2 January 2024.