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 increase of 106 per cent from Rs 919.2 crore in the previous fiscal fourth quarter. In fiscal 2024, Indigo reported an annual profit of Rs 8,172.5 million, a notable turnaround from a loss of Rs 306 million in the previous fiscal year. Shares of the airline closed at Rs 4,414.9 on the BSE, up 1.3 per cent, while the broader market rose 1.6 per cent.
Indigo CEO Pieter Elbers attributed this success to the airline's strong strategy execution, which resulted in the highest-ever total revenue of around Rs 71.2 billion and a net profit of around Rs 8.2 billion. for fiscal year 2024. Elbers highlighted that all four quarters of fiscal year 24 were profitable, reflecting the airline's consistent performance and achievement of its stated objectives. Indigo's positive financial results underscore its strong 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 said this new offering aims to appeal to first-time business class travelers and will be available on the country's busiest, business-focused routes. While details about the business class product, launch date and specific routes have yet to be revealed, Indigo intends to reveal more information in August during its anniversary celebrations.
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