Thursday, August 3, 2023

IndiGo earns the most profit in a quarter, $3,089 crore


NEW DELHI: On Wednesday, IndiGo announced that its June quarter profit of Rs 3,089 crore was the highest ever for an Indian airline. Last Q1, the carrier had a deficiency of Rs 1,057 crore.

The biggest Indian transporter by homegrown and worldwide carriage saw its income at Rs 17,161 crore this quarter, up 32% from Rs 13,019 crore in the year-prior period. IndiGo's scrip shut at Rs 2,566, down 0.2% on the BSE on Wednesday.

As of June 30, the airline reported total cash of Rs 27,400 crore, up 44% from Rs 19,069 crore at the end of June. Its obligation this June-end was Rs 46,292 crore, 17.9% more than the year-prior level. The carrier had 316 airplanes as on June 30, 12 a larger number of than same time the year before. The carrier will likewise send off an investment arm with an underlying capital of Rs 7 crore to finance travel-related new companies.

IndiGo President Pieter Elbers said, "We delivered solid functional execution and invited the largest number of quarterly travelers. As a result, we were able to achieve our highest-ever quarterly revenue and net profit for the June 2023 quarter. We placed a new order for 500 aircraft this quarter, bringing our outstanding order book to approximately 1,000 aircraft.

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