IndiGo flies out of red, posts Rs130-cr Q3 profit

New Delhi, February 4

Fuelled by higher passenger revenue, the country’s largest airline IndiGo on Friday posted a profit after tax of Rs 129.8 crore in the three months ended December 2021 amid the pandemic clouds.

InterGlobe Aviation, the parent of IndiGo, had slipped into a loss of Rs 620.1 crore in the year-ago period.

Total income surges 84% IN THIRD QTR

Revenue from operations jumped to Rs9,294.8 crore in the December quarter compared to Rs4,910 crore in the same period a year agoTotal income surged 84.3% on an annual basis to Rs9,480.1 crore in Q3 of the current fiscal yearPassenger ticket revenue rose 98.4% to Rs80,731 million and ancillary revenue was up 41.3% at Rs11,417 million compared to the same period last year

In a significant development, the company has appointed its co-founder Rahul Bhatia as Managing Director with immediate effect and he would oversee all aspects of the airline.

Reflecting signs of slow recovery in the pandemic-hit airline industry, IndiGo’s revenue from operations jumped to Rs 9,294.8 crore in the latest December quarter compared to Rs 4,910 crore in the same period a year ago.

Total income surged 84.3% on an annual basis to Rs 9,480.1 crore in the third quarter of the current fiscal year.

“For the quarter, our passenger ticket revenue was Rs 80,731 million, an increase of 98.4% and ancillary revenue was Rs 11,417 million, an increase of 41.3% compared to the same period last year,” it said.

The higher revenue also offset the increase in expenses, including the more than doubling of fuel cost. —