Interglobe Aviation Ltd, the parent company of IndiGo, reported a profit of Rs 1,894.8 crore for the quarter ended March 31, 2024, marking its sixth consecutive quarter of profitability. The airline’s strong financial performance was driven by robust demand for air travel, which outweighed the impact of rising fuel prices.
IndiGo’s net profit for Q4 FY24 more than doubled compared to the Rs 919 crore reported in the same quarter of the previous fiscal year. The airline’s bottomline met the Street’s projection of around Rs 1,900 crore, as estimated by an average of five brokerages.
The company’s revenue from operations grew by 26 percent to Rs 17,825.3 crore, although it fell short of the estimated revenue of Rs 19,452 crore. Despite the challenges posed by rising fuel prices, IndiGo’s ability to achieve double-digit revenue growth highlights its resilience and effective cost management strategies.
With a market share of over 50 percent, IndiGo continues to be the leading low-cost carrier in India. The airline’s focus on cost efficiency, fleet optimization, and network expansion has been key to its success in a competitive market.
As the Indian aviation industry recovers and domestic air traffic increases, IndiGo is well-positioned to capitalize on the growing demand for air travel. The company’s consistent profitability and market leadership demonstrate its strong fundamentals and ability to navigate challenges in the industry.