InterGlobe Aviation Ltd Q3 Results FY2023, PAT at Rs. 14,226 million

On 3rd February,  InterGlobe Aviation Ltd announced its results for the third quarter of FY2023.

Key Highlights:

- Revenue from Operations increased by 60.7% to Rs. 149,330 million 
- Total income for the quarter ended December 2022 was Rs. 154,102 million, an increase of 62.6% over the same period last year
- EBITDAR was reported at Rs. 33,990 million 
- Profit excluding foreign exchange of Rs. 20,091 million compared to Rs. 1,252 million. 
-  The company reported net profit of Rs. 14,226 million

Business Highlights:

- Capacity increased by 25.3% 
- Passenger numbers increased by 25.8% to 22.3 million 
- Yield improved by 21.9% to Rs. 5.38 and load factor improved by 5.4 points to 85.1%
- Fuel prices increased by 52.4% leading to increase in fuel CASK by 41.2% 
- CASK ex fuel increased by 6.0% to Rs. 2.76 due to increase in foreign exchange losses
- For the quarter, passenger ticket revenues were Rs. 131,624 million, an increase of 63.0% and ancillary revenues were Rs. 14,222 million, an increase of 24.6% compared to the same period last year.
- IndiGo had a total cash balance of Rs. 219,247 million comprising Rs. 106,125 million of free cash and Rs. 113,121 million of restricted cash. 
- The capitalized operating lease liability was Rs. 410,420 million. The total debt (including the capitalized operating lease liability) was Rs. 444,752 million
- As of 31st December 2022, fleet of 302 aircraft including 23 A320 CEOs, 160 A320 NEOs, 78 A321 NEOs, 39 ATRs and 2 A321 freighter; a net increase of 22 passenger and 1 freighter aircraft during the quarter. 
- IndiGo operated at a peak of 1,685 daily flights during the quarter including non-scheduled flights 
- IndiGo provided scheduled services to 75 domestic destinations and 22 international destinations during the quarter.

Commenting on the results, the Company’s CEO, Mr. Pieter Elbers 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. We are thankful to our customers and all IndiGo employees who enabled us to achieve this performance. With a modern fleet of over 300 aircraft, we continue to serve the market with further capacity growth planned across domestic and international sectors.”