IndiGo records its highest annual revenue in FY24

24 May 2024 CW Team

For the fiscal year 2023-24 (Apr'Mar), IndiGo, the largest airline in India and a subsidiary of InterGlobe Aviation Ltd., earned its highest yearly total consolidated revenue of Rs 712 billion, up 27.5% over the previous year. In the fiscal year, there was a Rs 81 billion profit after taxes, as opposed to a Rs 3.05 billion deficit the year before.

According to the statement made by IndiGo's Chief Executive Officer, Pieter Elbers, the financial year 2024 (FY24) has been a year of many remarkable achievements and milestones for the company. Elbers stated that the fourth quarter financial results were positive, making all four quarters in FY24 profitable. He added that the strong execution of IndiGo's strategy has yielded consistent results, and the company has achieved the targets that it had set for itself as a team at the beginning of the year. IndiGo, the biggest airline in India, has made a noteworthy move by deciding to introduce a customised premium business product service. For the last eighteen years, the airline has offered a basic, single-class flying service. By year's end, this product will be operational and accessible on the nation's busiest major commercial routes. More information on the debut date and routes of the product offering will be revealed in August, around IndiGo's anniversary. The news was made on the same day the airline announced that its revenue for the fiscal year 2023-24 (April-March) reached a record-breaking Rs 71,231 crore. Since the epidemic, the airline has rebounded nicely, logging six straight quarters of profit as of the end of March.

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