InterGlobe Aviation Ltd, the parent company of IndiGo, reported an 11.7% decrease in its profit for the first quarter of the financial year 2024-25 (Q1 FY25) on Friday.
The profit after tax (PAT) for the quarter was Rs 2,728.8 crore, down from Rs 3,090.6 crore in the same period last year.
Despite this drop in profit, the airline’s revenue from operations increased by 17.3% to Rs 19,570.7 crore, compared to Rs 16,683.1 crore in the previous year’s quarter.
IndiGo’s passenger ticket revenues reached Rs 16,501.9 crore, marking a 10% rise year-on-year, while ancillary revenues grew by 13.9% to Rs 1,763.4 crore.
CEO Pieter Elbers said that the total income increase of 18% to Rs 20,250 crore and a net profit of Rs 2,730 crore, resulting in a strong margin of around 14%.
Total expenses for the quarter were Rs 17,444.9 crore, up 24% from the previous year. As of June 30, 2024, the airline held a cash balance of Rs 36,100.6 crore, with Rs 22,087.6 crore in free cash and Rs 14,013 crore in restricted cash.
The capitalised operating lease liability stood at Rs 44,956.7 crore, with total debt, including this liability, amounting to Rs 52,526.4 crore.
During the quarter, IndiGo operated up to 2,029 daily flights and served 88 domestic and 30 international destinations. The fleet consisted of 382 aircraft, including a net increase of 15 passenger aircraft.
Following the earnings release, IndiGo’s shares closed 1.37% higher at Rs 4,491.25 on the BSE.