IndiGo flies high despite rupee air pocket
IndiGo reported a profit of Rs 2,499 crore in the three months to December, with a depreciating rupee toward the tail-end of 2024 causing an 18% bottom-line shrinkage from Rs 2,998 crore in the year-ago period.
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Excluding the impact of currency fluctuation the company reported a profit of Rs 3,850 crore, 26% higher than the Rs 3,050 crore during the corresponding period last year.
The October-December period is usually the best for Indian airlines as the festive followed by the wedding season and year-end travels drive up demand for air transport.
“We have delivered exceptional third quarter results and there were several driving forces that have led to this- a substantial growth in demand for air travel, continuation of strategic expansion across markets and an enhanced operational performance fueled by the festive period,” IndiGo CEO Pieter Elbers said.
Elbers said that he expects the demand to continue despite a slowdown in other consumer sectors. The airline will increase its capacity by 20% in the ongoing quarter.
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