IndiGo, India’s largest carrier, reported its highest-ever net profit of ₹3,090.6 crore for the quarter ended June 2023. This marked a significant improvement compared with the net loss of ₹1,064 crore the airline incurred during the corresponding quarter last year. The airline’s Q1FY24 results surpassed market expectations, as analysts had anticipated a bottomline of ₹1,769 crore on a topline of ₹15,895 crore. IndiGo’s strong operational performance and the record number of quarterly passengers contributed to the achievement of its highest-ever quarterly revenue and net profit. The CFO further said that in the next quarter, the airline expects the yields to be cyclically lower.

Source: The Hindu August 03, 2023 04:28 UTC