Wednesday, June 14, 2023

IndiGo reported its highest-ever Q4 revenue of Rs 919 crore

NEW DELHI: In the January-March 2023 quarter, IndiGo reported a profit of Rs 919.2 crore, compared to a loss of Rs 1,681.8 crore during the same time period in the previous fiscal year. In FY 2023, India's largest airline reported a loss of Rs 305.8 crore, down from Rs 6,162 crore in the previous fiscal year. On Thursday, the broader market was down 0.21 percent, and the airline's scrip closed at Rs 2,264, down 1.57%.

After Covid, After returned to profitability with its highest-ever quarterly profits of Rs 1,422.6 crore and Rs 15,410.2 crore between October and December 2022. It suffered losses of Rs 1,583.3 crore in Q2 and Rs 1,064.3 crore in Q1. The losses experienced in the first and second quarters were largely offset by profits in the third and fourth quarters.

Pieter Elbers, the CEO of IndiGo, said: With a mix of hearty market interest and centered execution of our system, this was the second continuous quarter wherein we delivered solid functional and monetary outcomes, as we detailed the most noteworthy at any point final quarter net benefit of Rs 919.2 crore rupees. We were able to end the year on a high note with record revenues thanks to the initiatives implemented throughout the company. In the fiscal year that ended in March 2023, I would like to express my gratitude to the 8.6 crore customers who chose to fly with us, as well as to the employees for their tremendous effort and dedication.

IndiGo's income from activities expanded by every available ounce of effort to Rs 54,446.5 crore in FY 2023 over the past financial. On March 31, 2023, the airline had a total cash balance of Rs 23,424.3 crore. The promoted working lease responsibility was Rs 41,547.7 crore and the absolute obligation (counting the promoted working lease risk) was Rs 44,854.2 crore.

It had an armada of 304 airplanes toward the finish of this Walk and worked at a pinnacle of 1,815 everyday trips during the quarter including non-planned flights.

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