NEW DELHI: The weaker rupee has led to IndiGo reporting 18% decline in its Q3 profit to Rs 2,449 crore from Rs 2,998 crore in Oct-Dec 2023. This is despite a 14.6% increase in total income from Rs 20,062 crore in Q3 FY24 to Rs 22,993 crore in the same period this fiscal and benign fuel prices. A majority of airline costs are dollar-denominated like lease rentals. The airline’s scrip closed 0.6% up on Friday when the broader market was down 0.4%. The airline is all set to introduce long-haul flights this summer by wet-leasing wide body aircraft as the twin-aisle Airbus A350s it has ordered will start coming from 2027. IndiGo is likely to wet lease six Boeing 787s and deploy them on routes like London, Paris and Amsterdam.
IndiGo Q3 net falls 18% on weak rupee
