InterGlobe Aviation, which operates the country's largest airline IndiGo, swung to a record 1,422 crore net profit in Q3FY23, after three consecutive loss-making quarters. For the same period last year, the airline posted a net profit of ₹129 crore.
The airline's best quarterly profit came on the back of 60.7 per cent year-on-year (YoY) growth in revenue from operations, which stood at ₹14,933 crore, driven by high passenger loads and strong yield.
Bloomberg consensus estimates put the airline's adjusted revenue and adjusted net profit at ₹14,198 crore and ₹1,274 crore, respectively.
IndiGo's passenger load factor rose to 85.1 per cent (up from 79.7 per cent) and the yield rose nearly 22 per cent to 25.38 on a YoY basis. While the yield is likely to have softened in the fourth quarter due to seasonality, it continues to be higher than that during the pre-Covid period.
هذه القصة مأخوذة من طبعة February 04, 2023 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 04, 2023 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Nearly ₹1 trn unspent welfare funds lying in states' accounts
Funds to the tune of ₹1 trillion for centrally sponsored schemes are lying unspent in the single nodal agency (SNA) accounts of states.
Govt plans to raise deposit insurance beyond ₹5 lakh
A proposal to increase deposit insurance is being considered and the finance ministry will notify it once the Cabinet takes a decision, said M Nagaraju, secretary, financial services, Ministry of Finance, on Monday.
₹1,400 cr. Industrial Push: MP Targets Jobs, Growth & Global Investors
Aims at generating 20 lakh jobs in five years and increase GDP to ₹6 lakh crore by 2030
India delivering 'good returns': FM on FII selloff
Choppy markets, dropping valuations make post-IPO exits via block deals challenging
Govt weighs LPG subsidy for OMCs as losses mount
As cooking gas underrecoveries soar, Centre considers ₹40K cr mid-yr payout
Smallcaps in free fall: More pain ahead?
Meltdown raises concerns of a full-blown capitulation
Trade deficit widens to nearly $23 billion in Jan as exports shrink
India's merchandise trade deficit widened to nearly $23 billion in January, compared with $16.5 billion a year earlier, as the value of exports dropped amid subdued demand for petroleum products and global economic uncertainties.
Embedding Sustainability in Organisational DNA
> K Vijay Vardhan Rao, Senior President Marketing, Maha Cement, highlights the unique steps taken to weave sustainability into the brand fabric
A Case Of Kilos
Global pharma majors are looking to cash in on India's obesity crisis, but weight-loss drugs demand time and money
Reviving manufacturing growth
Ensuring manufacturing growth consistent with our development aims requires the government becoming less entrepreneurial and the corporations becoming much more entrepreneurial
