InterGlobe Aviation (INDIGO) Q1 2025 earnings summary

Executive summary

• Reported total income of INR 202,489 million for Q1 FY25, up 18% year-over-year, with net profit of INR 27,288 million and a profit margin of 13.9%.

• Served 28 million customers in the quarter, marking seven consecutive quarters of profitability.

• ASK increased 11.1% and RPK grew 8.7% compared to Q1 FY24, reflecting network expansion.

• Board approved unaudited standalone and consolidated results for the quarter ended June 30, 2024.

• Statutory auditors issued unmodified review reports for both standalone and consolidated results.

Financial highlights

• EBITDA/EBITDAR for Q1 FY25 was INR 58,111 million (29.7% margin), up from INR 52,100 million in Q1 FY24.

• Passenger unit revenue (PRASK) was INR 4.54; yields improved 1.3% year-over-year to INR 5.24, offset by a slightly lower load factor of 86.7%.

• Unit revenue (RASK) rose 5.5% year-over-year to INR 5.40, aided by OEM compensation accruals.

• Total expenses rose 24% year-over-year, driven by higher fuel, employee, and rental costs.

• Free cash grew 40.8% year-over-year to INR 220,876 million; total debt increased 13.5% to INR 525,264 million.

Outlook and guidance

• Capacity guidance for FY25 remains early double-digit growth; Q2 FY25 capacity expected to rise high single digits year-over-year.

• Network expanded to 88 domestic and 33 international destinations, with 49 additional international destinations served via partnerships in Q1 FY25.

• Revenue environment for Q2 FY25 expected to be stable on a unit revenue basis.

• Confident in long-term demand and growth prospects, with continued network expansion and new aircraft deliveries planned.