IndiGo Q3 profit drops 18.6% to Rs 2,448.8 crore; revenue grows 13.7%
Mumbai: InterGlobe Aviation, the operator of IndiGo Airlines, reported an 18.6% decline in its consolidated net profit for the third quarter (Q3) of FY25, with earnings dropping to Rs 2,448.8 crore from Rs 2,998.1 crore in the same period last year, Business Standard reported, citing exchange filing.
The dip was attributed to the absence of a festive season boost, which had positively impacted demand in the base quarter, the company noted.
In the July-September quarter, IndiGo posted a net loss of Rs 987 crore, weighed down by increased airport fees, aircraft maintenance costs, and higher fuel expenses.
Despite the profit decline, consolidated revenue from operations rose by 13.7% to Rs 22,110.7 crore, compared to Rs 19,452.1 crore a year earlier.
The growth was driven by a 12% rise in available seat kilometres (ASK) and a 13.5% increase in revenue passenger kilometres (RPK).
The load factor improved by 1.2 percentage points to 86.9%, indicating better passenger occupancy.
IndiGo carried 27.325 million passengers during the quarter, up from 24.31 million a year ago, capturing a 63.8% market share compared to 62.1% previously.
Operational costs impacted the performance, with cost per available seat kilometre (CASK), excluding fuel, rising 23.1% year-on-year to Rs 3.25 due to inflation and escalating operational expenses.
Depreciation and amortisation costs also increased by 33.6% during the quarter.
Earnings before interest, tax, depreciation, amortisation, and rent (Ebitdar) grew by 10.7% to Rs 6,059 crore.
The EBITDAR margin stood at 27.4%, a decline of 70 basis points year-on-year, but adjusted for forex impacts, it improved to 33.7%.
IndiGo maintained a robust financial position with total cash reserves of Rs 43,781 crore as of December 31, 2024, reflecting a 35% year-on-year increase. Free cash reserves surged 50.5% to Rs 28,904 crore.
However, total debt rose by 27.3% to Rs 65,139 crore, primarily due to capitalised operating lease liabilities.
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