InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Thursday, reported a net profit of Rs 919.2 crore for the fourth quarter that ended March 31, 2023, on robust market demand and higher revenues.

In the corresponding quarter last year, the company posted a net loss of Rs 1,681.7 crore, IndiGo said in an exchange filing. In the March quarter, revenue stood at Rs 14,160.6 crore during the period under review, up 76.6 percent against Rs 8,020.7 crore in the corresponding period of the preceding fiscal.

EBITDAR

Earnings before interest, tax, depreciation, amortisation, and rent (EBITDAR) was Rs 2,966.5 crore in the fourth quarter of this fiscal against Rs 171.8 crore in the corresponding period in the previous fiscal. While its margin increased to 20.9 percent against 2.1 percent, the company said.

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For the fourth quarter, the airline's capacity increased by 49.2 percent to 30.4 billion and passenger numbers increased by 60.5 percent to 23.4 million. Also, the yield improved by 10.2 percent to Rs 4.85, and the load factor improved by 7.5 pts to 84.2 percent, the company stated.

Passenger Ticket Revenues

For the quarter, IndiGo's passenger ticket revenues were Rs 12,434.6 crore, an increase of 80.6 percent and ancillary revenues were Rs 1,445.9 crore, an increase of 36.6 percent compared to the same period last year. Total expenses for the quarter ended March 2023 were Rs 13,680.3 crore, an increase of 38.4 percent over the same quarter last year.

Aircraft Fleet

As of March 31, 2023, the fleet of 304 aircraft including 21 A320 CEOs, 162 A320 NEOs, 79 A321 NEOs, 39 ATRs, 2 A321 freighters, and 1 B777 (damp lease); a net increase of 2 passenger aircraft during the quarter.

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The airline operated at a peak of 1,815 daily flights during the quarter including non-scheduled flights. During the quarter, IndiGo provided scheduled services to 78 domestic destinations, 22 international destinations, and 30 additional international destinations through strategic partnerships.

IndiGo CEO Pieter Elbers said that with a combination of robust market demand and focused execution of its strategy, the March quarter was the second consecutive quarter wherein the airline produced strong operational and financial results.

(Edited by : Pradeep John)