IndiGo Q4 Results Highlights: Net profit doubles to ₹1,895 crore, revenue up 26%

• Passengers increased by 14% to 2.6 crore
• Revenue from operations increased by 26% to ₹17,825.3 crore
• EBITDAR of ₹4,412.3 crore (24.8% EBITDAR margin), compared to EBITDAR of ₹2,966.5 crore (20.9% EBITDAR margin)
• Excluding foreign exchange loss, profit amounted to ₹2,060.2 crore compared to profit of ₹666.4 crore
• Net profit of ₹1,894.8 crore, compared to net profit of ₹919.2 crore.

• Passengers increased by 24.7% to 10.6 crore
• Revenue from Operations increased by 26.6% to ₹68,904 crore
• EBITDAR of ₹17,544.7 crore (25.5% EBITDAR margin), compared to EBITDAR of ₹7,311.6 crore (13.4% EBITDAR margin) in FY23.
• Excluding foreign exchange loss, profit amounted to ₹8,889.9 crore compared to profit of ₹2,654 crore in FY23.
• Net profit of ₹8,172.5 crore, compared to net loss of ₹305.8 crore in FY23.
• Basic earnings per share of ₹211.84.

The earnings before interest, taxes, depreciation, amortisation and rent (EBITDAR) came in at ₹4,412 crore in Q4FY24, as compared to ₹2,966 crore in Q4FY23.

The EBITDAR margin stood at 24.8%, higher as compared to the margin of 20.9% in the year-ago period.

The revenue from operations came in at ₹17,825.3 crore in Q4FY24, higher by 26% as compared to ₹14,161 crore in the year-ago period. This is higher than the average estimate of a 16% jump in revenue, as shared by brokerages.

The net profit clocked by IndiGo in the quarter ended March 2024 has more than doubled to ₹1,895 crore, as compared to the net profit of ₹919 crore in the year-ago period. This is in line with the average estimate shared by brokerages.

Shares of IndiGo settled at ₹4,403 apiece on the NSE at closing bell, up 1.08% as against the last closing price. The company is expected to declare its results shortly.

India’s domestic air passenger traffic increased 2.4% year-on-year to 1.32 crore passengers in April 2024, as against 1.29 crore passengers in April 2023, as per the data released by the Directorate General of Civil Aviation (DGCA).

Despite the annual rise, domestic traffic declined slightly month-on-month. The DGCA data showed 1.33 crore passengers travelled through domestic flights in March 2024.

Shares of InterGlobe Aviation were trading 1.2% higher at ₹4,411 on the NSE ahead of financial results for the fourth quarter of fiscal year 2023-24.

IndiGo, which is the country’s largest carrier in terms of market share, ferried 5.8 lakh passengers in April as compared to 5.9 lakh in March. The market share remained almost flat at 60.6% in April, as compared to 60.5% in the preceding month.

IndiGo's revenue from operations, in Q4FY23, had increased by 76.5% to ₹14,161 crore. The company's earnings before interest, tax, depreciation, amortisation and rent (EBITDAR) had surged manifold to ₹2,966.5 crore from ₹171.8 crore in Q4FY22.

In the quarter ended March 2023, IndiGo had marked a turnaround with a net profit of ₹919 crore. In comparison, it had logged a net loss of ₹1,680 crore in Q4FY23.

The company's stock is in the green so far, ahead of the release of Q4FY24 results. The shares were valued at around ₹4,379 apiece on the NSE at 11:45 am.

The revenue from operations could increase to ₹16,426 crore, up 16% as compared to ₹14,161 crore recorded in the year-ago period, as the estimates shared by brokerages.

The net profit could peak to above ₹1,800 crore, as an average of brokerage estimates indicate a likely doubling in the net profit as compared to the year-ago period. In the March 2023 quarter, the private carrier had reported a net profit of ₹919 crore.

IndiGo's shares surged by 1.39% shortly after the opening bell, as the market looks optimistic in anticipation of the private carrier's March 2024 quarter results. The scrip was trading at ₹4,416.25 apiece.

IndiGo, the country’s largest airline in terms of market capitalisation, will declare its results for the quarter ended March 2024 on Thursday, May 23. Along with the quarterly earnings, the aviation company will also post its results for the entire fiscal year 2023-24 (FY24). Stay tuned here for the latest updates.

The private carrier, which has maintained its domination in the domestic market, is expected to log strong results in Q4FY24. According to brokerage estimates, the revenue from operations is likely to increase 16% year-on-year, whereas, the net profit is expected to double from Q4FY23.

How IndiGo had performed in the year-ago quarter?

In the quarter ended March 2023, IndiGo had marked a turnaround with a net profit of ₹919 crore. In comparison, it had logged a net loss of ₹1,680 crore in Q4FY23.

The airline’s revenue from operations had increased by 76.5% to ₹14,161 crore in Q4FY23.

The earnings before interest, tax, depreciation, amortisation and rent (EBITDAR) had surged manifold to ₹2,966.5 crore from ₹171.8 crore in Q4FY22.

IndiGo shares

Ahead of the release of Q4FY24 results, IndiGo’s shares edged in the green. The scrip settled at ₹4,359 on the NSE on May 22, up 1% as against the last closing price.

Year-to-date, the stock has rallied by 47.3%, whereas, the surge has been sharper at 97% in the past one year period.