IndiGo Reports 18% Decline in Q3 Net Profit Due to Rupee Weakness

NEW DELHI: IndiGo, India's leading airline, has announced an 18% decline in its Q3 profit, falling to Rs 2,448.8 crore from Rs 2,998.1 crore in the same period last year. This downturn comes despite a 14.6% increase in total income, which rose from Rs 20,062.3 crore in Q3 FY24 to Rs 22,992.8 crore this fiscal year, and favorable fuel prices.

Despite operating more flights and carrying a record 3.1 crore passengers in the quarter, IndiGo faced a 6% decrease in fuel costs, thanks to lower fuel prices. However, other costs excluding fuel saw a significant 37% rise, leading to an overall 20% increase in total costs.

IndiGo CEO Pieter Elbers commented on the results, stating, "We delivered a strong third quarter of FY 25, both operationally and financially. Our ability to cater to robust market demand, supported by lower fuel prices, has been key to our performance."

With a total cash balance of Rs 43,781 crore and a total debt of Rs 65,138.5 crore, IndiGo continues to navigate the challenges posed by currency fluctuations and operational costs.