IndiGo Posts Q2 Profit At Rs 188.9 Crore On Higher Air Traffic, Capacity – News18

IndiGo Q2 Results: InterGlobe Aviation, the owner of India’s largest airline IndiGo, on Friday posted a profit after tax (PAT) of Rs 188.9 crore for the second quarter ended September 30, 2023, on the back of higher air traffic and increased capacity.

The airline had posted a loss of Rs 1,583.3 crore in the year-ago period, according to a release.

IndiGo’s total income in July-September 2023 jumped 20.6 per cent to Rs 15,502.9 crore. The total income stood at Rs 12,852.3 crore in the year-ago period.

IndiGo said passengers increased by 33.4 per cent during the second quarter ended September 2023 to 26.3 million, and its capacity increased by 27.7 per cent, said the release.

For four consecutive quarters, IndiGo has delivered profitable growth demonstrating effective execution of its plans and strategy coupled with strong demand, the release said.

Pieter Elbers, CEO of IndiGo, said, “I am pleased to report yet another profitable quarter despite the seasonal fluctuations and external headwinds coming into play. With our clear strategy and focus on execution, we have completed a full cycle and remained profitable for the last four quarters.”

He added that the company continued to augment its network both domestically and internationally as it added 10 new destinations in the past few months, taking the total number of destinations to 115 as of today.

Shares of IndiGo on Friday rose Rs 19.55 or 0.8 per cent to close at Rs 2,509 apiece on the BSE.