IndiGo back in the black; posts net profit at Rs 130 cr in Dec quarter

Domestic budget carrier Interglobe Aviation Limited (IndiGo) on Friday posted a consolidated net profit at Rs 130 crore in the quarter ended 31 December, 2021. The aviation company had posted a net loss of Rs 620 crore in the year-ago period.

The company's revenue from operations surged 89 per cent to Rs 9,294 crore in the December quarter as against Rs 4,909 crore in the corresponding quarter in the previous year, IndiGo said in a regulatory filing.

The airline said there was a 50 per cent increase in capacity in the December quarter compared to the same period last year. 

Further, the company also stated that the Board of Directors of InterGlobe Aviation Limited unanimously approved the appointment of its co-founder and Promoter, Rahul Bhatia, as its Managing Director with immediate effect.

Commenting on the quarterly results, IndiGo's CEO, Ronojoy Dutta said, “I am pleased that we were able to report a profit for the third quarter. It demonstrates that our business model is fundamentally strong. Our employees have remained a pillar of strength throughout this health crisis and have steadfastly provided superior service to our customers.”

On Friday, shares of IndiGo closed 1.57 per cent higher at Rs 1,969.95 apiece on BSE.