Operational Disruptions Drag IndiGo Q3 Profit Down 78%
IndiGo Q3 Net Profit Falls 78% on Flight Operation Disruptions: India’s largest airline, IndiGo, reported a 78% drop in net profit for the December quarter. The airline posted a profit of ₹549.1 crore, compared with ₹2,448.8 crore in the same quarter last year.
IndiGo blamed the sharp fall on flight disruptions and the implementation of new labour codes. These factors together impacted earnings by ₹1,546.5 crore. Flight cancellations and delays in early December accounted for ₹577.2 crore, while new labour laws added a cost of ₹969.3 crore. The DGCA also fined IndiGo ₹22.2 crore, which the company reported as a special item.
InterGlobe Aviation, IndiGo’s parent, reported revenue of ₹24,540.6 crore for the quarter, up from ₹22,992.8 crore a year ago. The airline carried about 32 million passengers during the quarter and 124 million passengers in the full year.
IndiGo ended the quarter with a total cash balance of ₹51,606.9 crore, including free cash of ₹36,944.5 crore.
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