IndiGo reports a net profit of ₹919 crore in Q4, revenue soars 76% YoY

IndiGo reports a net profit of ₹919 crore in Q4, revenue soars 76% YoY
IndiGo posted its second consecutive profitable quarter in Q4Rounak Jain
  • IndiGo reports profit for the second consecutive profitable quarter in Q4.
  • IndiGo has reported a profit in only three out of the last 12 quarters.
  • Improvement in load factor and other operational metrics helped IndiGo post a profit in Q4 even as fuel costs increased by an average of 23.5% YoY.
IndiGo operator InterGlobe Aviation reported a net profit of ₹919 crore in Q4. This is the second consecutive profitable quarter for India’s largest airline. In the same period last year, the airline reported a loss of ₹1,682 crore.

Despite this, IndiGo’s bottomline missed analyst estimates of a net profit of ₹1,418 crore. The airline’s revenue however landed in line with analyst estimates at ₹14,161 crore, growing by 76% YoY.

“With a combination of robust market demand and focused execution of our strategy, this was the second consecutive quarter wherein we produced strong operational and financial results, as we reported the highest ever fourth quarter net profit,” said Pieter Elbers, CEO, InterGlobe Aviation.

IndiGo reported a net profit of ₹1,423 crore and revenue of ₹14,933 crore in Q3.

Rising fuel costs dented IndiGo’s bottomline during the March quarter, with a 23.5% YoY average increase in fuel costs in Q4.


However, an improvement in most of its operational metrics helped the airline post its second consecutive profitable quarter. This is also IndiGo’s only third profitable quarter in the past 12 quarters.

For the full year 2022-23, IndiGo is still in the red, with a loss of ₹306 crore, as against a loss of ₹6,162 crore in FY22.

IndiGo’s Q4 and FY23 in numbers:

ParticularsFY23FY22Q4 FY23Q4 FY22
Revenue₹54,446 crore₹25,931 crore₹14,161 crore₹8,021 crore
Net profit-₹306 crore-₹6,162 crore₹919 crore-₹1,682 crore
Net margin-0.60%-23.80%6.50%-21%

Source: Company reports

Most operational metrics register an improvement


Most of the operational metrics of IndiGo registered an improvement in the March quarter, both on-year as well as sequential basis.

Load factor is the only metric which saw a marginal decline, sequentially.

Operational metricQ4 FY23Q3 FY23Q4 FY22
Fleet (units)304302275
Available seat kilometres (ASK)30.4 bn28.8 bn20.4 bn
Revenue passenger kilometres (RPK)25.6 bn24.5 bn15.6 bn
Load factor84.2%85.1%76.7%
Passengers23.4 mn22.3 mn14.6 mn

Source: Company reports

On an annual basis, however, every metric saw an improvement.

Operational metricFY23FY22
Fleet (units)304275
Available seat kilometres (ASK)114.4 bn70.4 bn
Revenue passenger kilometres (RPK)93.9 bn51.8 bn
Load factor82.10%73.60%
Passengers85.6 mn49.8 mn

Source: Company reports


SBI Q4 results: India’s largest lender posts record quarterly net profit of ₹16,695 crore, up 83% YoY

Investments in real estate, government capex to drive India’s investment cycle in FY24

The changing contours of cinema-goers & underperforming Hindi movies weigh down PVR Inox