InterGlobe Aviation Q1 Results: Stunning 390% YoY Profit Growth

IndiGo airlines operating under the name of InterGlobe Aviation Ltd has reported its unaudited financial results yesterday after the market closer for the quarter that ended on June, 30 2023 or Q1FY24.   

Talking about the financials for Q1FY24 on a consolidated basis in comparison to the same quarter last year, the company’s net profit for the first quarter which ended on June 30, 2023, increased by 390.40% to Rs 3090.60 crore from net loss of Rs 1064.26 crore. In Q1FY24, the company’s operating profit increased by 615.37% from Rs 762.16 crore to Rs 5452.26 crore in a similar quarter the year prior. In Q1FY24, the company’s total net revenue increased by 29.78% from Rs 12,855.29 crore to Rs 16,683.05 crore in a similar quarter the year prior.        

Sequentially the company’s net profit for the quarter which ended on June 30, 2023 increased by 236.23% from Rs 919.20 crore. In Q1FY24, the company’s total net revenue increased by 17.81% from Rs 14,160.60 crore in the similar quarter the year prior.  

In this quarter IndiGo has achieved a remarkable milestone with the placement of a firm order for 500 Airbus A320 Family aircraft which will delivered between the years 2030 and 2035. Previously it already has ordered 480 aircraft which are yet to be delivered between today and the end of this decade. IndiGo order book has almost 1000 aircraft yet to be delivered well into the next decade. 

On July 28, 2023 company reported their long-term rating from ICRA A to ICRA A+ with stable outlook and short-term rating from ICRA A1 to ICRA A1+. As of June 30, 2023 company fleet size remained at 316 from 281 in June 30, 2022.   

In the last trading session, the scrip closed at Rs 2566.75. Today it opened at Rs 2630 and currently it is trading at Rs 2450, down by 4.51%. It has 52-week high at Rs 2745.95 and it has a 52-week low of Rs 1676. The company has a market cap of around Rs 94,450 crore. Over the past one year, it has given a return of 24.15%. 

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