IndiGo earns record Rs 3,090.6 crore profit in Q1, highest ever quarterly total income

Popular and the country's largest airline IndiGo for its budget flight service has released the results of the first quarter of FY24.
IndiGo has reported a record Profit After Tax (PAT) of Rs 3,090.6 crore for the June quarter on the back of strong operational performance and favorable market conditions, according to the results.
InterGlobe Aviation, the parent company of the country's largest airline IndiGo, reported its highest-ever quarterly total income of Rs 17,160.9 crore in the first quarter of the current financial year, according to a release.
IndiGo, which had 316 aircraft in its fleet at the end of June 2023, reported a loss of Rs 1,064.3 crore in the June quarter of 2022.
In a release, the airline said that in the June quarter of FY24, it reported the highest-ever quarterly profit of Rs 3,090.6 crore while total income or revenue stood at Rs 13,018.8 crore in the same period of June 2022.
In the 2023 June quarter, IndiGo's fuel cost is set to decline by 12.7 percent to Rs 5,228.1 crore, while total expenses declined marginally to Rs 14,070.1 crore.
The capacity is expected to increase by about 25 percent in terms of available seat kilometers (ASK) in Q2 FY2024 as compared to Q2 FY2023, according to the release.
As of June-end, IndiGo has a fleet of 316 aircraft, which included 166 A320 Neo, 87 A321 Neo, and two aircraft on wet lease.
IndiGo had total cash of Rs 27,400 crore, which included a free cash flow of Rs 15,691.1 crore and restricted cash of Rs 11,709 crore. Shares of InterGlobe Aviation fell Rs 5.45 to close at Rs 2565.30 in the stock market today.