IndiGo's Net Profit Doubles In Q4 The airline announced it would introduce a tailor-made business product for busy routes before the end of the year
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IndiGo's parent InterGlobe Aviation reported a profit of INR 1,894.8 crore for the quarter ended March 31, 2024. The airline posted a net profit of INR 919 crore in the year-ago period.
The company's revenue from operations grew 26 per cent to INR 17,825.3 crore from INR 14,161 last fiscal. The carrier's EBITDAR (earnings before interest, tax, depreciation, amortisation and rent) jumped to INR 4,412.3 crore.
To keep up the growth momentum, the airline announced it would introduce a tailor-made business product—or premium class—for busy routes before the end of the year. Pieter Elbers, CEO of IndiGo said, "Over the past 18 years, India's and IndiGo's growth story have been closely interlinked. We believe as India gears up to become the third largest economy in the world, it's our privilege to provide India with even more options to choose from as they travel business. We are excited with this new phase and tailor-made product in IndiGo's evolution and strategy and aim to further give wings to the nation, by connecting people and aspirations."
This product will be available on the busiest and business routes of the nation and will be operational before the end of this year. Coming August, around IndiGo's anniversary, more details on product offering, launch date and routes will be unveiled.
Meanwhile, FY24 Ebitdar (earnings before interest, tax, depreciation, amortization and rent) grew 140 per cent YoY to INR 17,544.7 crore, with margins of 25.5 per cent. Traffic increased by 24.7 per cent y-o-y which led to market share rising from 56.8 per cent in March 2023 to 60.5 per cent in March 2024.
