IndiGo’s Q3 revenue surges, but debt landscape looms at Rs 511,875 million
New Delhi: IndiGo airlines on Friday released its third quarter results for the 2023-24 fiscal, stating that the capitalised operating lease liability stood at Rs 445,565 million, contributing to a total debt (including the capitalised operating lease liability) of Rs 511,875 million.
For the quarter ended December 31, 2023, compared to the same period the previous fiscal, IndiGo reported substantial advancements.
“Capacity increased by 26.8 per cent while passengers surged by 23.4 per cent and revenue from operations saw a substantial increase of 30.3 per cent, reaching Rs 194,521 million,” the airline stated.
It added that its EBITDA stood at Rs 54,751 million with a 28.1 per cent and excluding foreign exchange loss, while a profit of Rs 30,491 million was reported as compared to Rs 20,091 million in the corresponding period of the previous fiscal.
Total income for the quarter ended December 31, 2023 reached Rs 200,623 million, showcasing a substantial increase of 30.2 per cent over the same period last fiscal, as per the report.
However, the quarter also saw increased expenses, totaling Rs 170,637 million, a 22.0 per cent rise compared to the same quarter last fiscal.
“IndiGo had a total cash balance of Rs 324,280 million comprising Rs 191,996 million of free cash and Rs 132,285 million of restricted cash. The capitalised operating lease liability was Rs 445,565 million. The total debt (including the capitalised operating lease liability) was Rs 511,875 million,” as per the report.
As of December 31, 2023, IndiGo’s fleet comprised 358 aircraft, with a net increase of 23 passenger aircraft and 1 freighter during the quarter. The airline operated at a peak of 2,016 daily flights, including non-scheduled flights, and provided scheduled services to 86 domestic and 29 international destinations.
