IndiGo swings back to profit after 7 qtrs, appoints co-founder Bhatia as MD

India’s largest airline IndiGo swung back into profit after registering seven consecutive quarters of loss thanks to a rebound in travel demand during the holiday season.

The company posted a profit of Rs 129.79 crore in the December quarter (Q3) financial year 2021-22 (FY22), primarily driven by higher revenue and yields. IndiGo had reported a loss of Rs 621.80 crore in the corresponding quarter of Q3FY21.

Net revenue increased 89 per cent to Rs 9,294.77 crore from Rs 4,909.98 crore a year ago. Its passenger ticket revenues came in at Rs 8,073.10 crore, up 98.4 per cent while ancillary revenue