IndiGo on Friday reported its first quarterly profit since the pandemic at ₹129.8 crore for the quarter ended December following a decline in the number of COVID-19 cases and removal of capacity restrictions by the government.
The last time the market leader recorded a profit was two years ago, when it saw a profit of ₹496 crore for the third quarter of financial year 2019-2020.
Total income for the quarter ended December stood at ₹9,480 crore or 65% more than the income in the quarter ended September.
Total expenses for the third quarter stood at ₹9,346, an increase of 29.2% compared with the previous quarter.“Decline in Covid-19 cases and removal of capacity restrictions resulted in buoyant traffic numbers,” said CEO Ronojoy Dutta said.
“We were encouraged to see how rapidly the domestic traffic reverted to pre-COVID levels during the quarter. From December we kept going down every day till January 15, when we bottomed. Now, we are seeing a slow build up.”
The airline also announced the appointment of its co-founder and promoter Rahul Bhatia as its MD.