Indigo has achieved a milestone by reporting an annual profit of $1 billion, becoming the first Indian airline to reach this figure. For the January-March quarter, the airline reported a profit of Rs 1,895 crore, a significant 106 per cent increase from Rs 919.2 crore in the previous Q4 fiscal. In fiscal year 2024, Indigo reported an annual profit of Rs 8,172.5 crore, a remarkable turnaround from a loss of Rs 306 crore in the previous fiscal year. The airline’s stock closed at Rs 4,414.9 on the BSE, up 1.3 per cent, while the broader market was up 1.6 per cent.
Indigo’s CEO, Pieter Elbers, attributed this success to the strong execution of the airline’s strategy, resulting in the highest-ever total income of around Rs 71,200 crore and a net profit of approximately Rs 8,200 crore for fiscal year 2024. Elbers highlighted that all four quarters of FY24 were profitable, reflecting the airline’s consistent performance and achievement of its set targets. Indigo’s positive financial results underscore its robust growth and effective strategic planning.
Looking ahead, Indigo plans to introduce a business class on select routes by the end of the year. CEO Elbers stated that this new offering aims to attract first-time business class travellers and will be available on the busiest and most business-centric routes in the country. While details about the business class product, launch date, and specific routes remain undisclosed, Indigo intends to reveal more information in August during their anniversary celebrations.
