InterGlobe Aviation, the parent of IndiGo, has posted the highest-ever quarterly profit for an Indian carrier at Rs 3,089.2 crore in the quarter ended June.
The carrier, which had 316 planes in its fleet at the end of June 2023, had registered a loss of Rs 1,064.3 crore in the 2022 June quarter.
Shares of the company closed almost flat at Rs 2,565.75 apiece on the BSE.
The airline also reported its highest-ever quarterly total income of Rs 17,160.9 crore in the first quarter of the current fiscal, according to a release. Total income or revenues stood at Rs 13,018.8 crore in the three months ended June 2022.
In the latest June quarter, the airline said it had the highest-ever quarterly profit that “reflects strong operational performance, execution of our strategy and favourable market conditions”.
“We produced a strong operational performance and welcomed the highest number of quarterly passengers which enabled us to generate the highest ever quarterly revenue and net profit for the quarter ended June 2023,” IndiGo CEO Pieter Elbers said.
In the 2023 June quarter, the carrier’s fuel costs declined 12.7 per cent to Rs 5,228.1 crore, while the total expenses marginally fell to Rs 14,070.1 crore.
“During this quarter, we placed a new order for 500 aircraft that takes our outstanding order book to 1,000 aircraft and further strengthens our position for future growth,” he said. At the end of June, IndiGo had a fleet of 316 planes, including 166 A320 neos, 87 A321 neos and two planes on wet lease.
Meanwhile, the DGCA has approved IndiGo’s plans to start flight services to Almaty in Kazakhstan.
SpiceJet plan
SpiceJet has sought shareholders approval to issue shares and warrants on preferential basis to Spice Healthcare, a promoter firm. The carrier is also planning to issue 5.91 per cent of its equity to various arms of Carlyle Aviation Partners, the aircraft financing unit of private equity firm Carlyle.
The announcement led to shares of the airline zooming on Wednesday. It closed at Rs 31.42, a gain of 7.20 per cent on the BSE, after rising 10 per cent to touch a day’s high of Rs 32.25.
In a postal ballot notice to its shareholders, SpiceJet said it will issue 3.41 crore shares and 13.5 crore warrants to Spice Healthcare, an entity controlled by promoter Ajay Singh.
