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IndiGo narrows fiscal year loss to US$37 million; posts highest ever final quarter profit
May 19th 2023
Interglobe Aviation, parent of India-based LCC IndiGo, has reported a net loss of 3.1 billion rupee (US$37 million) for the 12 months to March 31 compared with a 61.6 billion rupee net loss in the previous year. Read More » Revenue from operations rose 110%, to 544.5 billion rupee, Interglobe said in a regulatory filing. Costs were 71.2% higher for the year at 561.9 billion rupee. Interglobe CEO, Pieter Elbers, said the company posted a net profit of 9.2 billion rupee for the quarter to this March 31, the highest fourth quarter result in the airline’s history. “With a combination of robust market demand and focused execution of our strategy, this was the second consecutive quarter where we produced strong operational and financial results,” Elbers said. “I would like to thank the 86 million customers who chose to fly with us in the financial year ended March 31, 2023 and also our employees for their immense hard work and dedication.”
