Q3 Results: IndiGo, Tata Motors report multifold rise in net profit

The budget airline had reported a rise in the total income from Rs 15,410.2 crore to Rs 20,062.3 crore in the same period a year ago. IndiGo said its passenger ticket revenues were up 30.3 per cent at Rs 171,572 million, with ancillary revenues witnessing a rise by 23.8 per cent at Rs 17,600 million in the current quarter.

“For the third quarter of financial year 2024, we reported a profit after tax (PAT) of Rs 30 billion with a profit after tax margin of 15.4 per cent. With these five consecutive quarters of profit, we continue to recover from the losses of Covid and have now become net worth positive again,” IndiGo CEO Pieter Elbers said.

Tata Motors Q3 Results

Smashing expectations, Tata Motors reported a rise in net profit at Rs 7,025.11 during the December quarter compared to Rs 2,958 crore in the year-ago quarter, on the back of strong sales in its British luxury car unit Jaguar Land Rover (JLR). The automobile manufacturer expanded its margins on earnings before interest, taxes, depreciation, and amortisation (EBITDA) to 14.3% from 11.1% last year.

Surpassing Maruti Suzuki, Tata Motors’ claimed the title of India’s most valuable carmaker this week after its stock rallied. Despite Maruti Suzuki being the largest automaker in the country, Tata Motors stands ahead in the revenue race.

“It is satisfying to see our businesses execute well on their differentiated strategies and deliver a strong set of results for the quarter, thereby making it six quarters of consistent delivery. We aim to end the year on a strong footing and remain confident of sustaining our performance in the coming quarters and delivering on our de-leveraging plans,” Group Chief Financial Officer PB Balaji said.

IHCL Q3 Results

The Indian Hotels Company (IHCL) reported a growth of 18 per cent in consolidated income at Rs 451.95 crore in the December quarter against Rs 382.71 crore in the year-ago quarter.

The company’s revenue from operations grew 16.49 per cent to Rs 1,963.84 crore compared to Rs 1,685.80 crore a year ago. The hotel company said the performance was driven by strong performances in all verticals.

“IHCL reported an all-time high consolidated PAT margin of 22.6 per cent, marking seven consecutive quarters of record financial performance. This robust performance was enabled by ‘same store hotels’ clocking RevPAR premium across markets and segments, and the scaling of new businesses,” Managing Director and CEO, Puneet Chhatwal said. According to him, IHCL has signed 28 hotels, with 16 hotels opening till January. Four more hotels are in line to be operational by end of this fiscal.

With inputs from PTI