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IndiGo reports record profit in March quarter on robust demand
InterGlobe Aviation Limited, which operates India’s largest airline IndiGo, on Thursday reported a record profit of ₹919.2 crore in the March quarter on the back of robust demand for air travel during the period. The average daily air passenger traffic in the Indian civil aviation market was recorded at 420,000 during the quarter, higher than the daily air passenger traffic in the pre-pandemic year of 2019, as per data from the civil aviation regulator Directorate General of Civil Aviation. The total income for the airline during the quarter rose by 78% on year to ₹14,600 crore. The March quarter of 2021-22 was impacted due to the dampened travel sentiment amid the surge in covid-19 cases caused by the omicron variant. As a result, the company had reported a net loss of ₹1681.8 crore and total income of ₹8207.5 crore in the same quarter a year ago. "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, IndiGo. Source - MInt
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