Driven by strong demand for air travel, continued growth, and lower fuel cost, for the quarter ended December 2024, IndiGo reported a solid profit of INR 38.5 billion excluding the impact of currency movement, as against a profit of 30.5 billion during the same period last year.
Including the impact of foreign exchange, the net profit for the quarter aggregated to INR 24.5 billion.
InterGlobe Aviation Ltd. (“IndiGo”) reported its Third quarter fiscal year 2025 results.
For the quarter ended December 31, 2024, compared to the same period last year
- Capacity increased by 12.0% to 40.8 billion
- Passengers increased by 12.7% to 31.1 million
- Unit passenger revenue (PRASK) up by 0.3% to INR 4.72
- Revenue from Operations increased by 13.7% to INR 221,107 million
- CASK has increased by 6.8% to INR 4.83 (CASK ex fuel ex fx increased by 10.1% to INR 2.90) • EBITDAR of INR 60,587 million (27.4% EBITDAR margin), compared to EBITDAR of INR 54,751 million (28.1% EBITDAR margin)
- EBITDAR excluding forex impact of INR 74,560 million (33.7% margin), compared to EBITDAR excluding forex impact of INR 55,260 million (28.4% margin)
- Net profit of INR 24,488 million, compared to net profit of INR 29,981 million
Profitability Metrics
| Particulars
(INR mn); |
Quarter ended | ||
| Dec‘24 | Dec‘23 | Change | |
| EBITDAR | 60,587 | 54,751 | +10.7% |
| EBITDAR excluding foreign exchange* | 74,560 | 55,260 | +34.9% |
| PBT | 25,271 | 29,985 | -15.7% |
| PAT | 24,488 | 29,981 | -18.3% |
| Profit excluding
foreign exchange* |
38,461 | 30,490 | +26.1% |
*Net of gain on forex hedging of INR 591 million and Nil for quarter ended Dec’24 and Dec’23 respectively
Operational Metrics*
| Particulars | Quarter ended | ||
| Dec‘24 | Dec‘23 | Change | |
| ASK (billion) | 40.8 | 36.5 | +12.0% |
| RPK (billion) | 35.5 | 31.3 | +13.5% |
| Load Factor | 86.9% | 85.8% | +1.2 pts |
| Passengers (million) | 31.1 | 27.5 | +12.7% |
*Includes non-scheduled operations
Pieter Elbers, CEO, said: “We delivered a strong third quarter of financial year 2025, both operationally and financially. We reported a total income of INR 230 billion, reflecting a growth of 15 percent and profit excluding the impact of currency movement of INR 38.5 billion. Including currency impact, we reported a profit of INR 24.5 billion highlighting effective execution of our clear and well-defined strategy. These results were driven by robust demand in the market and our ability to cater to that demand supported by lower fuel prices.
We touched new milestones as we operated a peak of 2,200 daily flights and served a record 31.1 million passengers during the quarter. We will continue the growth path to offer our customers with options to conveniently fly to the destination of their choice.”
Revenue and Cost Comparisons
Total income for the quarter ended December 2024 was INR 229,928 million, an increase of 14.6% over the same period last year. For the quarter, our passenger ticket revenues were INR 192,678 million, an increase of 12.3% and ancillary revenues were INR 21,531 million, an increase of 22.3% compared to the same period last year.
| Particulars (INR mn) | Quarter ended | ||
| Dec‘24 | Dec‘23 | Change | |
| Revenue from operations | 221,107 | 194,521 | +13.7% |
| Other income | 8,821 | 6,102 | +44.6% |
| Total income | 229,928 | 200,623 | +14.6% |
| RASK* (INR) | 5.44 | 5.34 | +1.9% |
| Yield (INR/Km) | 5.43 | 5.48 | -1.0% |
*Net of finance income of INR 7,605 million and INR 5,834 million for quarter ended Dec’24 and Dec’23 respectively
Total expenses for the quarter ended December 2024 were INR 204,657 million, an increase of 19.9% over the same quarter last year.
| Particulars (INR mn) | Quarter ended | ||
| Dec‘24 | Dec‘23 | Change | |
| Fuel cost | 64,226 | 68,414 | -6.1% |
| Other costs excluding fuel | 140,431 | 102,224 | +37.4% |
| Total cost | 204,657 | 170,638 | +19.9% |
| CASK* (INR) | 4.83 | 4.52 | +6.8% |
| CASK ex fuel* (INR) | 3.25 | 2.64 | +23.1% |
| CASK ex fuel ex forex* (INR) | 2.90 | 2.63 | +10.1% |
* Net of finance income of INR 7,605 million and INR 5,834 million for quarter ended Dec’24 and Dec’23 respectively
Cash and Debt
As of 31st December 2024
- IndiGo had a total cash balance of INR 437,808 million comprising INR 289,035million of free cash and INR 148,773 million of restricted cash.
- The capitalized operating lease liability was INR 495,937 million. The total debt (including the capitalized operating lease liability) was INR 651,385 million.
Network and Fleet
- As of 31st December 2024, fleet of 437 aircraft including 45 A320 CEOs (19 damp lease and 6 secondary leases), 199 A320 NEOs, 128 A321 NEOs, 48 ATRs, 3 A321 freighters, 12 B737 (damp lease) and 2 B777 (damp lease); a net increase of 27 passenger aircraft during the quarter.
- IndiGo operated at a peak of 2,200 daily flights during the quarter including non-scheduled flights.
- During the quarter, provided scheduled services to 89 domestic destinations and 34 international destinations.
Operational Performance
For the period October – December’24
- IndiGo had a Technical Dispatch Reliability of 99.89%.
- IndiGo had an on-time performance of 73.3% at four key metros and flight cancellation rate of 0.97%.
Future Capacity Growth
- Fourth quarter of fiscal year 2025 capacity in terms of ASKs is expected to increase by around 20% as compared to the fourth quarter of fiscal year 2024.
Awards and Accolades
- IndiGo was recognized as ‘2024 Airline of the Year’ by Centre for Aviation (CAPA) • IndiGo was honoured at ‘National Energy Conservation Awards 2024’ by Government of India • IndiGo won prestigious NCPEDP Helen Keller Award 2024 for Promotion of Employment for Disabled People (NCPEDP)
- IndiGo was recognized among the Top 25 Safest Workplaces by KelpHR PoSH Awards 2024 • IndiGo was awarded for ‘Excellence in Sustainability Initiatives’ by Dubai Airports at Dubai Airports excellence awards 2024
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