Airlines company InterGlobe Aviation announced Q3FY24 results:
Financial Highlights
- Net profit: Rs 29,981 million for Q3FY24, with robust demand driving profitability for five consecutive quarters.
- Revenue from Operations: Increased by 30.3% to Rs 1,94,521 million.
- Yield: Increased by 2.0% to Rs 5.48.
- Load Factor: Improved by 0.7 points to 85.8%.
- Reduction in Fuel CASK: By 6.7% to Rs 1.88.
- CASK ex-fuel: Decreased by 4.2% to Rs 2.64.
- EBITDAR: Rs 54,751 million (28.1% EBITDAR margin), a significant increase from the previous year.
Operational Metrics
- Capacity increased by 26.8%.
- Passengers carried: Increased by 23.4% to 27.5 million.
- The fleet consisted of 358 aircraft as of December 31, 2023.
Cash and Debt
- Total Cash Balance: Rs 3,24,280 million (comprising Rs 191,996 million of free cash).
- Total Debt: Rs 511,875 million (including capitalized operating lease liability).
Network and Fleet Expansion
- IndiGo operated a peak of 2,016 daily flights and served 86 domestic and 29 international destinations.
- The fleet expanded by a net addition of 23 passenger aircraft and 1 freighter during the quarter.
Operational Performance
- Technical Dispatch Reliability: 99.91%
- On-time Performance: 78% at key metros.
- Flight Cancellation Rate: 0.94%
Company’s CEO, Pieter Elbers said, “For the third quarter of financial year 2024, we reported a profit after tax of 30 billion rupees with a profit after tax margin of 15.4%. With these 5 consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again.
This series of profitable growth is attributable to the confidence shown by passengers who chose to fly with us. We are grateful for our customers’ confidence and our thousands of employees who continue to put their best foot forward each day to serve them.
The year 2023 was marked by numerous milestones. We served 100 million plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations. Each achievement is a testament to our focused strategy, loyalty of our customers and dedication of 6E employees.”