InterGlobe Aviation posts Rs 189 crore profit in Q2
New Delhi: InterGlobe Aviation, the company that operates IndiGo Airlines, on Friday reported a Rs 188.9 crore consolidated net profit for the September quarter (Q2) of the current financial year 2023-24 as against a net loss of Rs 1,583.3 crore in the same period a year ago.
The airline's revenue from operations during Q2 of the current financial year rose 19.57% year-on-year to Rs 14,943.8 crore as against Rs 12,497.5 crore in the corresponding period of the preceding year.
The airline reported a surge in revenue as domestic air traffic growth remained strong during the quarter despite it generally being a lean period.
"With our clear strategy and focus on execution, we have completed a full cycle and remained profitable for the last four quarters. We continued to augment our network both domestically and internationally as we added 10 new destinations in the past few months, taking the total number of destinations to 115 as of today," said airline CEO Pieter Elbers.
For the quarter ended September 30, 2023, IndiGo's capacity increased 27.7% year-on-year.
As per an official media release, the airline had a total cash balance of Rs 30,665.8 crore comprising Rs 18,082.7 crore of free cash and Rs 12,583.1 crore of restricted cash.
IndiGo had a total debt (including the capitalized operating lease liability) of Rs 49,391.7 crore as of September 30, 2023.
(With UNI inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Shoaib Akhtar slams PCB after Asia Cup 2025 final loss, calls it ‘senseless and headless chicken’
PM Modi releases ₹100 coin, says first-ever Bharat Mata image carved on currency
Six inmates escape Tripura jail after injuring guard with sharp weapons
Centre clears 3% DA hike for govt staff, pensioners ahead of festive season
