InterGlobe Aviation posts Rs 189 crore profit in Q2
New Delhi: InterGlobe Aviation, the company that operates IndiGo Airlines, on Friday reported a Rs 188.9 crore consolidated net profit for the September quarter (Q2) of the current financial year 2023-24 as against a net loss of Rs 1,583.3 crore in the same period a year ago.
The airline's revenue from operations during Q2 of the current financial year rose 19.57% year-on-year to Rs 14,943.8 crore as against Rs 12,497.5 crore in the corresponding period of the preceding year.
The airline reported a surge in revenue as domestic air traffic growth remained strong during the quarter despite it generally being a lean period.
"With our clear strategy and focus on execution, we have completed a full cycle and remained profitable for the last four quarters. We continued to augment our network both domestically and internationally as we added 10 new destinations in the past few months, taking the total number of destinations to 115 as of today," said airline CEO Pieter Elbers.
For the quarter ended September 30, 2023, IndiGo's capacity increased 27.7% year-on-year.
As per an official media release, the airline had a total cash balance of Rs 30,665.8 crore comprising Rs 18,082.7 crore of free cash and Rs 12,583.1 crore of restricted cash.
IndiGo had a total debt (including the capitalized operating lease liability) of Rs 49,391.7 crore as of September 30, 2023.
(With UNI inputs)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
