IndiGo Q3 results: Net profit drops 18.6% to Rs 2,449 cr, revenue up 14%

Interglobe Aviation Q3FY25 results: Indigo carried 27.325 million passengers, commanding a market share of 63.8%, compared to 24.31 million passengers and a 62.1% share a year ago

IndiGo airline's operator Interglobe Aviation on Friday reported 18.6 per cent drop in consolidated net profit for the third quarter (Q3) of the financial year 2024-25 (FY25) at Rs 2,448.8 crore from Rs 2,998.1 reported during the same period last year. The lower profit was attributed to a shift in the festival season, which had boosted demand during the base quarter, the company said in an exchange filing.  

 

In the July-September quarter, IndiGo had reported a net loss of Rs 987 crore, impacted by higher airport fees, aircraft maintenance costs, and fuel expenses.

 

Consolidated revenue from operations, however, grew by 13.7 per cent at Rs 22,110.7 crore from Rs 19,452.1 crore reported in the year-ago period. This revenue growth was supported by a 12 per cent increase in available seat kilometres (ASK) and a 13.5 per cent rise in revenue passenger kilometres (RPK). 

 

The load factor improved by 1.2 percentage points to 86.9 per cent, reflecting higher passenger occupancy. The airline carried 27.325 million passengers, commanding a market share of 63.8 per cent, compared to 24.31 million passengers and a 62.1 per cent share a year ago.

 

However, operational costs weighed on the performance. IndiGo's cost per available seat kilometre (CASK), excluding fuel, jumped 23.1 per cent year-on-year to Rs 3.25, driven by inflation and rising operational expenses. Depreciation and amortisation costs also rose 33.6 per cent during the quarter.

 

Earnings before interest, tax, depreciation, amortisation, and rent (Ebitdar) grew 10.7 per cent to Rs 6,059 crore, with an Ebitdar margin of 27.4 per cent, down 70 basis points from last year. Adjusted for forex impacts, the Ebitdar margin improved to 33.7 per cent.

 

IndiGo's financial position remained strong, with total cash reserves of Rs 43,781 crore as of December 31, 2024, a 35 per cent increase year-on-year. Free cash reserves surged 50.5 per cent to Rs 28,904 crore. However, debt rose 27.3 per cent to Rs 65,139 crore, primarily due to capitalised operating lease liabilities.

 

Shares of Indigo closed at Rs 4,162.80, 0.6 per cent higher on the BSE on Friday, ahead of the company's Q3 results.