IndiGo Q1 results: Net profit falls 11.5% on-year to Rs 2,736 crore on higher fuel costs

IndiGo had reported a profit of Rs 1,894.8 crore on sales of Rs 17,825.3 crore in Q4 FY24.

InterGlobe Aviation, the operator of low-cost airline IndiGo, on July 26 posted a profit of Rs 2,736 crore for the quarter ended June 2024, down 11.5 percent as compared to a net profit of Rs 3,090.6  crore in the same period a year ago.

Revenue from operations for IndiGo, the largest airline in the country, rose 17.3 percent to Rs 19,570 crore, from the year-ago period when the airline had reported a topline of Rs 16,683.1 crore.

IndiGo's net profit fell mainly due to a 22.7 percent rise in the airline' aircraft fuel expenses which rose to Rs 6,416.5 crore during Q1FY25 from Rs 5,228.1 crore a year ago.

When compared year-on-year, ATF prices in April 2024 stood at Rs 100893.63 per Kilo Litre, 2.6 percent higher at than Rs 98349.59 per Kilo Litre in April 2023. Similarly, jet fuel in June 2024 stood at Rs 94969.01 per Kilo Litre, 6.34 percent higher when compared to Rs 89303.09/kl in the same period in 2023.

IndiGo's surge in revenue was led by a sharp rise in domestic travel during the quarter, as demand for domestic travel in India has continued to surge for the past two quarters.

Sequentially, IndiGo had reported a profit of Rs 1,894.8 crore on sales of Rs 17,825.3 crore in Q4 FY24.

IndiGo carried 245.33 lakh domestic passengers in the June 2025 quarter, 4.8 percent higher than the same period last year, the garnering a market share of 61 percent.

In Q1FY24 the airlines had carried 234.09 lakh domestic passengers for a market share of 60.7 percent.

IndiGo managed to surpass market expectations with its Q1FY2025 results, analysts had expected the airline to report a bottomline of Rs 2,430.2 crore on a topline of Rs 17,851.2 crore.

"I want to extend heartfelt gratitude to our 28 million customers this quarter for their continued loyalty and choosing IndiGo for their travels. In a few days, we will celebrate our 18th anniversary wherein we will unveil our recently announced new initiatives to address the evolving market developments and our customers’ feedback. I would also like to thank all my 6E colleagues for their continued dedication, professionalism, and commitment in serving our customer," CEO Pieter Elbers said.

For the quarter, the company said its passenger ticket revenues stood at Rs 16,502 crore up 10 percent when compared to the same quarter a year ago and ancillary revenues at Rs 1,763.4 crore were up 13.9 percent compared to the same period a year ago.

At the operating level, earnings before interest, tax, depreciation, amortisation and rent cost (EBITDAR) profit or consolidated operating profit for the quarter came in at Rs 5,811 crore as against an operating profit of Rs 5,210.8 crore in the year-ago quarter.

Available seat kilometres (ASK) rose 11 percent on a year-on-year basis to 36.3 billion, while revenue passenger kilometres (RPK) rose 8.7 percent on-year to 31.5 billion.

The load factor for the no-frill airline stood at 86.7 percent at the end of the June quarter as against 88.6 percent in the year-ago period.

The operating performance was marred by high fuel costs as revenue per available seat kilometre (RASK) stood at Rs 5.4, whereas cost per ASK (CASK) was at Rs 4.62.

The airlines' RASK rose 5.5 percent from a year ago, while CASK rose 11 percent (nearly double the RASK) from a year ago.

InterGlobe Aviation's yield per passenger rose to Rs 5.24 in the June quarter from Rs 5.18 a year ago, the company said.

The company's total debt rose 13.5 percent on year to Rs 52,526.4 crore in the June quarter, while total cash rose by 31.8 percent to Rs 36,100.6 crore, including free cash of Rs 22,087.6 crore.

The airline had 382 aircraft in its fleet at the end of the quarter, up from 367 in the previous quarter. IndiGo operated at a peak of 2,029 daily flights during the quarter including non-scheduled flight.