InterGlobe Aviation (Indigo) reported a consolidated net profit of Rs 1,422.6 crore in Q3 FY23, steeply higher than Rs 129.79 crore posted in Q3 FY22.
Revenue from operations surged 60.66% to Rs 14,932.97 crore in the quarter ended 31 December 2022 from Rs 9,294.77 crore recorded in Q3 FY22.
Profit before tax soared to Rs 1,423.31 crore in Q3 FY23 as against Rs 133.66 crore reported in the same period a year ago.
EBITDAR (Earnings before interest, tax, depreciation, amortisation and rent) stood at Rs 3,399 crore in Q3 FY23, registering a growth of 70.3% from Rs 1,995.5 crore posted in Q3 FY22. EBITDAR margin in the third quarter improved to 22.8% as compared with 21.5% reported in the corresponding quarter last year.
The number of passengers in Q3 FY23 increased by 25.8% to 22.3 million as against 17.8 million registered in Q2 FY22.
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For the quarter, the company's passenger ticket revenues stood at Rs 13,162.4 crore, recording a growth of 63% and ancillary revenues were at Rs 1,422.2 crore, an increase of 24.6% compared to the same period last year.
Total costs spiked 49.6% year on year to Rs 13,986.9 crore in the quarter ended 31 December 2022. Fuel cost was at Rs 5,785.1 crore (up 77% YoY) during the quarter.
Available seat-kilometer (ASK) rose 25.3% to 28.8 billion in Q3 FY23 from 23 billion posted in Q3 FY22. Revenue passenger-kilometer (RPK) jumped 33.8% to 24.5 billion in Q3 FY23 over 18.3 billion reported in the same quarter last year.
As of 31 December 2022, Indigo had a total cash balance of Rs 21,924.7 crore, comprising Rs 10,612.5 crore of free cash and Rs 11,312.1 crore of restricted cash. The capitalized operating lease liability was Rs 41,042 crore. The total debt (including the capitalized operating lease liability) was Rs 44,475.2 crore.
IndiGo operated at a peak of 1,685 daily flights during the quarter including non-scheduled flights.
On future capacity growth, Indigo said that the fourth quarter of fiscal year 2023 capacity in terms of ASKs is expected to increase by around 45% as compared to the fourth quarter of fiscal year 2022.
Pieter Elbers, CEO of the company, said, Third quarter performance was strong both operationally and financially in the backdrop of robust demand for air travel. The wide range of initiatives that were set in motion across the organization have started to yield results. I am proud to report the highest ever quarterly revenue of 154.1 billion rupees and robust profit of 14.2 billion rupees for the third quarter of fiscal year 2023. With a modern fleet of over 300 aircraft, we continue to serve the market with further capacity growth planned across domestic and international sectors.
InterGlobe Aviation (IndiGo) is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, and a courteous, hassle-free travel experience. It had a fleet of 302 aircraft as of 31 st December 2022.
Shares of InterGlobe Aviation declined 1.28% to close at Rs 2,098.55 on the BSE.
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