Mumbai, Jan 24 (IANS): InterGlobe Aviation, the parent company of IndiGo, on Friday reported a 18.6 per cent drop in its consolidated net profit for the third quarter (Q3) of the financial year 2024-25 (FY25).

The company posted a profit of Rs 2,448.8 crore in Q3, down from Rs 2,998.1 crore during the same period last year.

The decline in profits was largely due to a 20 per cent rise in its expenses, which reached Rs 20,466 crore, compared to Rs 17,064 crore in the same period last year.

As a result, the airline’s profit after tax (PAT) margin fell by 430 basis points to 11.1 per cent, down from 15.4 per cent in Q3FY24.

The budget airline's revenue from operations grew by 13.7 per cent, reaching Rs 22,110.7 crore, compared to Rs 19,452.1 crore in Q3 FY24.

The low-cost carrier’s revenue showed a significant 30 per cent jump on a sequential basis, as it had reported a lower revenue of Rs 16,970 crore in Q2 FY25. Despite the rise in revenue, the company had faced a net loss of Rs 987 crore in the July-September quarter.

IndiGo’s EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortisation, and Restructuring) increased by 10.7 per cent, reaching Rs 6,059 crore in Q3, up from Rs 5,475 crore in the year-ago period.

In Q2 FY25, the company reported a massive net loss of Rs 986 crore, compared to net profit of Rs 188 crore in the same period last year (Q2FY24).

Meanwhile, India’s domestic air passenger traffic rose by 6.12 per cent to 16.13 crore in 2024 from 15.2 crore in the previous year, according to the latest data compiled by the Directorate General of Civil Aviation (DGCA).

In December, the market share of IndiGo stood at 64.4 per cent while that of Air India touched 26.4 per cent.