Aircraft Carrier Indigo reports an annual profit of $ 1 billion, becoming the first Indian plane company to clock such a high profit.
The airline has recently reported a profit of Rs 1,895 crore, this January-march quarter, which is an increase of 106% from Rs 919.2 crore, in the previous Q4 fiscal.
This Fiscal year 2024, an annual profit of Rs 8,172.5 crore was reported. Earlier, the previous fiscal, the company reported the loss of Rs.306 crore.
But this year, the fortune of Indigo seems bullish, as on BSE Thursday, the airline’s scrip closed at Rs 4,414.9 on Thursday. Which was up 1.3%, when the broader market stood at 1.6%.
Talking about the profit, Indigo’s CEO Pieter Elbers said,
“For the full financial year 2024, we reported our highest ever total income of around Rs 71,200 crore with a net profit of around Rs 8,200 crore. The fourth quarter financial results were positive, making it all four quarters in FY24 profitable. The strong execution of our strategy has yielded consistent results for us as we achieved the targets that we had set for ourselves as a team at the beginning of the year.”
Meanwhile, Indigo also plans to launch business class on some routes by the year’s end.
Talking about this concept, Indigo’s CEO Elbers has declared, that by launching Business class, they will create a desired option for those, who are travelling in this class for the first time in their lives.
Further, the airline will make this product available on the “busiest and business routes of the nation.” And this will become operational before the year’s end. \
However, the details related to business class’s product offering, launch date and routes are still under wraps, as the airline plans to reveal these by August, during their anniversary.