Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
IndiGo Parent Posts 1,000% Jump In Profit To Rs 1,422.6 Cr In Dec Quarter
InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022
Topics
Aviation IndiGo | air travel
InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel.
The company had a Profit After Tax (PAT) of Rs 129.8 crore in the same period a year ago.
IndiGo's total income jumped to Rs 15,410.2 crore in the third quarter of the current fiscal, from Rs 9,480.1 crore in the year-ago period, according to a release.
"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 organisation have started to yield results," IndiGo CEO Pieter Elbers said.
He also said the company reported its highest-ever quarterly revenue of Rs 154.1 billion and robust profit of Rs 14.2 billion for the third quarter of fiscal year 2023.
"With a modern fleet of over 300 aircraft, we continue to serve the market with further capacity growth planned across domestic and international sectors," he said.
Shares of IndiGo declined 1.21 per cent to close at Rs 2,100 apiece on the BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Fri, February 03 2023. 17:14 IST
RECENT NEWS
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more