IndiGo Q4 FY2023 Result: Net Profit Rebounds to ₹919.2 Crore as Revenue Soars 76.6%

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IndiGo, India’s leading airline by market share, reported a net profit of ₹919.2 crore for the fourth quarter of fiscal year 2023, compared to a net loss of ₹1,681.7 crore in the same period last year. The company’s revenue surged 76.6% year-on-year to ₹14,160.6 crore, driven by a robust recovery in passenger traffic and higher cargo revenue.


Key Highlights of IndiGo Q4 FY2023 Result

  • IndiGo’s passenger traffic increased by 142.3% year-on-year to 15.6 million in Q4 FY2023, as domestic and international travel resumed after the easing of COVID-19 restrictions. The airline’s market share stood at 55.1% as of March 2023, up from 54.3% a year ago.
  • IndiGo’s revenue from operations increased by 74.2% year-on-year to ₹13,722.1 crore in Q4 FY2023, while its other income rose by 224.1% to ₹438.5 crore. The company’s revenue per available seat kilometer (RASK) improved by 12.4% to ₹3.79, while its cost per available seat kilometer (CASK) declined by 24.2% to ₹3.49.
  • IndiGo’s earnings before interest, taxes, depreciation, amortization and rent (EBITDAR) surged to ₹3,261.7 crore in Q4 FY2023, compared to ₹3,174.9 crore in Q4 FY2021. The company’s EBITDAR margin improved to 24%, up from 23.4% a year ago.
  • IndiGo’s earnings before interest, taxes, depreciation and amortization (EBITDA) jumped to ₹3,053.3 crore in Q4 FY2023, compared to ₹2,966.5 crore in Q4 FY2021. The company’s EBITDA margin increased to 21.6%, up from 20.9% a year ago.
  • IndiGo’s net profit increased to ₹919.2 crore in Q4 FY2023, compared to a net loss of ₹1,681.7 crore in Q4 FY2021. The company’s net margin improved to 6.5%, up from -11.9% a year ago.
  • IndiGo’s cash balance as of March 31, 2023 stood at ₹19,567 crore, comprising ₹8,098 crore of free cash and ₹11,469 crore of restricted cash. The company’s total debt as of March 31, 2023 was ₹28,859 crore.

IndiGo’s Outlook for FY24

IndiGo’s management said that the company is well-prepared to capture the growth opportunities in the aviation sector, as it has a strong balance sheet, a low-cost structure and a resilient network. The company expects to increase its capacity by 30-35% in FY24, compared to FY22 levels.


The company also said that it is focused on enhancing its customer experience, expanding its international presence and diversifying its revenue streams.


The company said that it is confident of achieving its long-term vision of being the best air transportation system in the world.


Conclusion


IndiGo’s Q4 FY2023 result showed a remarkable recovery from the previous year, as the company benefited from a robust recovery in passenger traffic and higher cargo revenue. The company also improved its operational efficiency and profitability margins significantly.


The company faces some challenges due to the uncertainty and volatility in the macroeconomic environment and the competitive landscape.


The company will have to leverage its competitive advantages and strategic initiatives to sustain its growth momentum and create value for its stakeholders.

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