IndiGo profit doubles on higher traffic, increased capacity

THE country's largest airline IndiGo on Thursday reported more than doubling of its net profit to 1,894.8 crore for the quarter ending March 2024 and announced introduction of business class in select routes this year.

The strong performance in the quarter, which also marks six consecutive quarters of profitability, was fuelled by higher traffic, increased capacity and a favourable external environment. For the year ended March 2024, the airline posted the highest annual net profit of 8,172.5 crore on record total income of 18,505.1 crore.

After flying for nearly 18 years, the airline will introduce business class in select routes this year as it seeks to provide more options for passengers amid rising economic growth.

The airline will launch a "tailor-made business product", the details of which will be unveiled around August that will also mark the 18th anniversary of the carrier.