IndiGo, India’s largest airline, has posted highest-ever full-year profit in the history of Indian Aviation. Let’s get into the details.
IndiGo has posted a profit of INR 8172.5 crores for the financial year ending March 2024. This is not only the highest-ever profit for IndiGo but is the highest-ever profit for any Indian airline.
For the quarter ended 31st March 2024, compared to the same period last year:
- Capacity increased by 14.4% to 34.8 billion
- Passengers increased by 14.0% to 26.7 million
- Yield increased by 7.0% to INR 5.19 and load factor improved by 2.1 pts to 86.3%
- Revenue from Operations increased by 25.9% to INR 178,253 million
- Reduction in fuel CASK by 6.9% to INR 1.72
- CASK (Cost per available seat kilometre) excluding fuel increased by 14.7% to INR 2.90
- Excluding foreign exchange loss, profit amounted to INR 20,602 million compared to profit of INR 6,664 million
- Net profit of INR 18,948 million, compared to net profit of INR 9,192 million
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For the year ended 31st March 2024, compared to the year ended 31st March 2023:
- Capacity increased by 21.8% to 139.3 billion
- Passengers increased by 24.7% to 106.7 million
- Yield decreased by 1.0% to INR 5.08 and load factor improved by 3.8 pts to 85.9%
- Revenue from Operations increased by 26.6% to INR 689,043 million
- Reduction in fuel CASK by 17.0% to INR 1.72
- CASK ex fuel decreased by 3.6% to INR 2.66
- Excluding foreign exchange loss, profit amounted to INR 88,899 million compared to profit of INR 26,540 million
- Net profit of INR 81,725 million (8172.5 crore), compared to net loss of INR 3,058 million (305.8 crore)
- Basic earnings per share of INR 211.84
For the fourth quarter of Financial Year 2023-24, IndiGo had a Technical Dispatch Reliability of 99.91% and an on-time performance of 71.4% at four key metros and flight cancellation rate of 2.06%. Additionally, first quarter of fiscal year 2025 capacity in terms of Available Seat Kilometres (ASKs) is expected to increase by 10-12% as compared to the first quarter of fiscal year 2024.
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