InterGlobe Aviation Ltd, the parent company of India’s largest airline, IndiGo, has reported a strong profit growth for the first quarter of the financial year 2023. The company’s net profit for the quarter stood at Rs 919.2 crore, up 76.6% from the same period last year.
The company’s revenue for the quarter also increased by 76.6% to Rs 13,018.8 crore. This was driven by strong demand for air travel, which has been on the rise in recent months.
IndiGo’s passenger load factor (PLF) for the quarter was 84.7%, which is higher than the industry average of 82.5%. The company also added 6 new aircraft to its fleet during the quarter, taking the total number of aircraft to 281.
InterGlobe Aviation’s CEO Ronojoy Dutta said that the company is confident of maintaining its strong performance in the coming quarters. He said that the company is well-positioned to benefit from the ongoing growth in air travel in India.
The company’s strong performance is a positive sign for the Indian aviation sector. It is expected to boost investor confidence in the sector and encourage other airlines to invest in new aircraft and capacity. This will help to meet the growing demand for air travel in India.