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The consolidated net profit of Indigo in the quarter that ended on September 30 stood at Rs 188.93 crore. However, in Q2FY23, the consolidated net loss stood at Rs 1,583.3 crore. As compared to Rs 3,090.6 crore in the previous quarter, the net profit was down 93.88 per cent.
The company's revenue from operations was up 19.57 per cent to Rs 14,944 crore during the quarter under review against Rs 12,498 crore last year. In the previous quarter, it had reported revenue from operations of Rs 16,683 crore. This is a fall of 10.42 per cent.
The total income for Q2FY24 came in at Rs 15,503 crore, compared to Rs 12,852 crore y-o-y, registering a rise of 20.62 per cent. On a q-o-q basis, the total income was down 9.66 per cent. It was Rs 17,161 crore in Q1FY24.
The company's earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (Ebitdar) for Q2FY24 stood at Rs 2,446.4 crore, as compared to Rs 229.20 crore in the previous quarter. This is a rise of 967.36 per cent.
Pieter Elbers, chief executive officer (CEO), 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. 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. My deepest gratitude to all 6E employees for their hard work, determination, and passion they bring to their roles in serving our loyal IndiGo customers.”
In a press release, the company stated that its number of passengers increased by 33.4 per cent to Rs 2.63 crore. As of September 30, 2023, Indigo has a fleet of 334 aircraft, including 20 A320 CEOs, 176 A320 NEOs, 93 A321 NEOs, 41 ATRs, two A321 freighter and two B777 (damp lease). The company further stated that during the quarter, it provided scheduled services to 79 domestic destinations and 28 international destinations.
The Indigo stock closed at Rs 2,505.30 on November 3.
