IndiGo Q4 Results: Profit Surges More Than Twofold, Meets Estimates
The operator of India's largest airline IndiGo reported a 106% surge in the bottom line to Rs 1,895 crore.
InterGlobe Aviation Ltd.'s profit rose in the fourth quarter of fiscal 2024, meeting analysts' estimates.
The operator of India's largest airline IndiGo reported a 106% surge in the bottom line to Rs 1,895 crore during the January-March period, according to an exchange filing on Thursday. A consensus estimate of analysts tracked by Bloomberg had projected a profit of Rs 1,916 crore.
The company witnessed a 7% rise in aircraft fuel expenses on a yearly basis at Rs 5,979 crore during the quarter. IndiGo operated at a peak of 2,021 daily flights during the period. It also reported a foreign exchange profit of Rs 1,654 crore between January and March, as compared to a loss of Rs 2,528 crore in the corresponding quarter a year ago.
Revenue of the budget carrier rose 26% year-on-year to Rs 17,825 crore for the quarter. That compared with an estimate of Rs 16,860.28 crore.
The aircraft's capacity increased by 14.4% on a yearly basis in the quarter-ended March, while passengers increased 14% year-on-year during the period. IndiGo now expects an increase of 10-12% in capacity during the first quarter of the financial year ending March 2025.
The operational performance strengthened as the earnings before interest, tax, depreciation, amortisation and rental cost of the company increased 66% on a yearly basis to Rs 4,159 crore. The operating margin expanded to 23.3% from 17.6%.
Shares of InterGlobe Aviation closed 1.1% higher at Rs 4,403 apiece on Thursday ahead of the earnings announcement. That compares with a 1.6% advance in the country's benchmark NSE Nifty 50.
