IndiGo on Friday saw its profit after tax fall 18.3 per cent to ₹2,448.8 crore in the three months ended December 2024 as currency volatility took a toll on the bottomline.
With the increase in capacity and passengers, the carrier’s total income jumped 14.6 per cent to ₹22,992.8 crore.
In the year-ago period, the same stood at ₹20,062.3 crore.
InterGlobe Aviation is the parent of IndiGo, which flew 31.1 million passengers in the latest December quarter.
In the 2023 December quarter, the carrier had a profit after tax of ₹2,998.1 crore.
“Driven by strong demand for air travel, continued growth and lower fuel cost for the quarter ended December 2024, IndiGo reported a solid profit of ₹38.5 billion, excluding the impact of currency movement against a profit of ₹30.5 billion during the same period last year. Including the impact of foreign exchange, the net profit for the quarter aggregated to ₹24.5 billion,” the airline said.
Fuel cost, which accounts for a significant chunk of an airline’s operational expenses, fell 6.1 per cent to ₹6,422.6 crore in the latest December quarter even as total costs climbed 19.9 per cent to ₹20,465.7 crore.
“We delivered a strong third quarter both operationally and financially. We reported a total income of ₹230 billion, reflecting a growth of 15 per cent and profit, excluding the impact of currency movement of ₹38.5 billion.
“Including currency impact, we reported a profit of ₹24.5 billion, highlighting effective execution of our clear and well-defined strategy,” IndiGo CEO Pieter Elbers said.
He also noted that these results were driven by robust demand in the market and the ability to cater to that demand supported by lower fuel prices.
During the December 2024 quarter, the airline’s yield fell 1 per cent to ₹5.43 while unit passenger revenue inched up 0.3 per cent to ₹4.72.
At the end of December, the company had a total cash balance of ₹43,780.8 crore.