April-June 2023 Period
New Delhi: IndiGo, the largest Indian carrier, achieved a remarkable milestone by reporting the highest-ever quarterly profit among Indian airlines. In the first quarter of 2023, the airline recorded a profit of Rs 3,089 crore, a significant improvement from the loss of Rs 1,056.5 crore in the same quarter last year.
Impressive Revenue Growth
IndiGo’s revenue soared to Rs 17,160.8 crore during the same period, representing a remarkable 32% increase compared to Rs 13,018.8 crore in the previous fiscal year.
Strengthening Financial Position
The airline’s total cash reserves on June 30, 2023, stood at Rs 27,400 crore, reflecting a substantial 43.7% growth compared to Rs 19,069.4 crore in the previous June. However, the debt also increased to Rs 46,291.9 crore, marking a 17.9% rise from last year’s Rs 39,277.6 crore.
IndiGo’s fleet size expanded to 316 aircraft as of June 30, 2023, adding 12 more aircraft from the same period last year.
Positive Outlook and Growth Strategy
IndiGo’s CEO, Pieter Elbers, expressed satisfaction with the airline’s performance in the first quarter, attributing it to strong operational efficiency and an increasing number of passengers. The company also placed a new order for 500 aircraft during this period, bringing their outstanding order book to approximately 1,000 aircraft. This strategic move positions IndiGo for future growth and success.
Thank You to Valued Customers
The CEO expressed gratitude to loyal customers and dedicated staff members, acknowledging their role in achieving the airline’s growth strategy and looking forward to soaring to new heights and exploring new frontiers.