IndiGo makes Rs 189 crore profit in third quarter

IndiGo reported a net profit of Rs 188.9 crore for the three months ended September, keeping the country’s largest airline in the black for the fourth consecutive quarter, but warned that Pratt & Whitney engine problems will cause more aircraft to be grounded in the March quarter of next year.

The airline’s bottom line, which is also expanding overseas, was bolstered in the most recent quarter by more traffic, decreased foreign exchange losses, and increased capacity.

According to a press release, InterGlobe Aviation, IndiGo’s parent company, lost Rs 1,583.3 crore in the previous fiscal year.

In the most recent September quarter, the net profit, excluding foreign exchange losses, was Rs 806.1 crore.

IndiGo’s overall revenue increased by 20.6 percent to Rs 15,502.9 crore in the second quarter of the current fiscal year. The entire income was Rs 12,852.3 crore at the same time last year.

IndiGo has produced profitable growth for four consecutive quarters, proving the successful execution of its plans and strategy, together with high demand, according to the statement.

“With our clear strategy and focus on execution, we have completed a full cycle and remained profitable for the last four quarters”, Pieter Elbers, the chief executive officer of IndiGo, said.

As per the announcement, the airline’s capacity climbed by 27.7 percent in the September quarter, which is seasonally the weakest quarter.

A senior airline official stated that around 40 planes of the company are currently grounded owing to engine problems.

IndiGo, which had a fleet of 334 jets at the end of September, is pursuing a variety of actions, including wet leasing planes, retaining CEO planes, and leasing additional CEO planes from the secondary market.

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