InterGlobe Aviation (IndiGo) Q3 earnings: Net profit falls 77% to ₹550 crore, revenue rises 6%

The exceptional expense included ₹969 crore set aside for implementation of new labour codes and ₹577 crore for operational disruptions it faced in December, IndiGo said in a regulatory filing.

IndiGo's revenue from operations rose 6% to ₹23,472 crore from ₹22,111 crore in the year-ago period.

IndiGo reported stable operational performance as its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also known as operating profit advanced 4% to ₹5,367 crore but its EBITDA margin contracted by 60 basis points to 22.9%.

During the quarter IndiGo's capacity increased by 11.2% to 45.4 billion and passengers rose by 3% to 31.9 million.

“This quarter, the Company faced major operational disruptions that resulted in significant flight cancellations and delays from 3rd to 5th December. We deeply regret the inconvenience faced by our customers and express our heartfelt gratitude for their patience and trust,” said Pieter Elbers, CEO, IndiGo.

I also want to thank all IndiGo colleagues who worked tirelessly to stabilize operations—your dedication and ‘service from the heart’ enabled us to return swiftly to normal operations. We are grateful to the Government, Aviation Authorities and all other partners in the Indian aviation ecosystem for their support in helping restore normalcy," he added.

IndiGo had a fleet of 440 aircraft including 27 A320 CEOs (1 damp lease), 180 A320 NEOs, 171 A321 NEOs (3 damp lease), 1 A321XLR, 46 ATRs, 3 A321 freighters, 2 B777 (damp lease), 5 B737 (damp lease) and 5 B787 (damp lease); a net increase of 23 passenger aircraft during the quarter, IndiGo said.

The country’s largest airline operated at a peak of 2,344 daily flights during the quarter including non-scheduled flights.

In October-November, IndiGo had an on-time performance of 76.6% at six key metros and flight cancellation rate of 1.03%.

InterGlobe Aviation shares ended 1.47% higher at ₹4,929 ahead of its earnings announcement.