Saturday, November 8, 2025

Driven by strong operational execution and optimized capacity deployment, for the seasonally weak  quarter ended September 30, 2025, IndiGo reported total revenue of INR 195,995 million, a 10%  growth on a year over year basis. 

Excluding the impact of currency movement, IndiGo reported a net profit of INR 1,039 million as  compared to a net loss of INR 7,539 million during the same period last year.  

Including the impact of currency movement pertaining to dollar based future obligations, the net loss for the quarter aggregated to INR 25,821 million. 

Gurgaon, Nov 4, 2025: InterGlobe Aviation Ltd. (“IndiGo”) today reported its Second quarter of fiscal year  2026 results. 

For the quarter ended September 30, 2025, compared to the same period last year (on a consolidated  basis) 

• Capacity increased by 7.8% to 41.2 billion 

• Passengers increased by 3.6% to 28.8 million 

• Yield increased by 3.2% to INR 4.69 and load factor was flat at 82.5% 

• Revenue from Operations increased by 9.3% to INR 185,553 million 

• Reduction in fuel CASK by 16.3% to INR 1.45 

• CASK ex fuel ex fx increased by 3.9% to INR 3.01 

• EBITDAR excluding forex impact of INR 38,003 million (20.5% EBITDAR margin), compared to  EBITDAR excluding forex impact of INR 26,668 million (15.7% EBITDAR margin) • EBITDAR of INR 11,143 million (6.0% EBITDAR margin), compared to EBITDAR of INR  24,340 million (14.3% EBITDAR margin) 

• Net profit excluding forex impact amounted to INR 1,039 million compared to net loss excluding  forex of INR 7,539 million 

• Net loss of INR 25,821 million, compared to net loss of INR 9,867 million 

Profitability Metrics 

Particulars  (INR mn)Quarter ended
Sep’25 Sep’24 Change
EBITDAR 11,143 24,340 -54.2%
EBITDAR excluding foreign exchange* 38,003 26,668 +42.5%
PBT (24,817) (9,071) -173.6%
PAT (25,821) (9,867) -161.7%
Profit excluding foreign exchange* 1,039 (7,539)+113.8%

*Net of gain on forex hedging INR 2,061 million and INR 78 million for quarter ended Sep’25 and Sep’24 respectively Operational Metrics* 

Particulars Quarter ended
Sep’25 Sep’24Change 
ASK (billion) 41.2 38.2 +7.8%
RPK (billion) 34.0 31.6 +7.7%
Load Factor 82.5% 82.6% -0.1 pts
Passengers (million) 28.8 27.8 +3.6%

*Include non-scheduled operations

Mr. Pieter Elbers, CEO, said,  

Our optimized capacity deployment has enabled us to deliver a 10% growth in topline revenue and  excluding impact of currency movement, an operational profit of 104 crore rupees as compared to an  operational loss last year. As India’s aviation sector continues to grow and mature, we recognize the  

importance of structurally optimizing capacity during seasonally weaker periods to sustain profitability. The quarter also had a very strong Operational Performance as IndiGo continues to lead the On Time  Performance charts, Customer appreciation, and expansion of the network. 

The year began with significant external challenges across the industry, but we saw stabilization in July  and a strong recovery through August and September. Looking ahead, we have scaled up our operational  plans for the second half to meet demand and continue driving growth. With that we have nudged up our  capacity guidance for full financial year 2026 to early teens growth” 

Revenue and Cost Comparisons 

Total income for the quarter ended September 2025 was INR 195,995 million, an increase of 10.4% over the same period last year. For the quarter, our passenger ticket revenues were INR 159,667 million, an increase of 11.2% and ancillary revenues were INR 21,411 million, an increase of 14.2% compared to the  same period last year. 

Particulars (INR mn) Quarter ended
Sep’25 Sep’24Change 
Revenue from operations 185,553 169,696 +9.3%
Other income 10,442 7,894 +32.3%
Total income 195,995 177,590 +10.4%
RASK* (INR) 4.55 4.45 +2.3%
Yield (INR/Km) 4.69 4.55 +3.2%

*Net of finance income of INR 8,294 million and INR 7,501 million for quarter ended Sep’25 and Sep’24 respectively 

Total expenses for the quarter ended September 2025 were INR 220,812 million, an increase of 18.3% over  the same quarter last year. 

Particulars (INR mn) Quarter ended
Sep’25 Sep’24Change 
Fuel cost 59,618 66,052 -9.7%
Other costs excluding fuel 161,194 120,609 +33.7%
Total cost 220,812 186,661 +18.3%
CASK* (INR) 5.16 4.69 +10.0%
CASK ex fuel* (INR) 3.71 2.96 +25.4%
CASK ex fuel ex forex* (INR) 3.01 2.90 +3.9%

*Net of finance income of INR 8,294 million and INR 7,501 million for quarter ended Sep’25 and Sep’24 respectively 

Cash and Debt 

As of 30th September 2025 

• IndiGo had a total cash balance of INR 535,152 million comprising INR 385,167 million of free cash and INR 149,985 million of restricted cash. 

• The capitalized operating lease liability was INR 496,514 million. The total debt (including  the capitalized operating lease liability) was INR 748,138 million.

Network and Fleet 

• As of 30th September 2025, fleet of 417 aircraft including 30 A320 CEOs (4 damp lease), 180 A320 NEOs, 153 A321 NEOs, 47 ATRs, 3 A321 freighters, 2 B777 (damp lease) and 2 B787  (damp lease); a net increase of 1 passenger aircraft during the quarter. 

• IndiGo operated at a peak of 2,244 daily flights during the quarter including non-scheduled  flights. 

• During the quarter, provided scheduled services to 94 domestic destinations and 41 international destinations. 

Operational Performance 

For the period July-September’25 

• IndiGo had a Technical Dispatch Reliability of 99.89%. 

• IndiGo had an on-time performance of 89.8% at six key metros and flight cancellation rate of  0.5%. 

Future Capacity Growth  

• Third quarter of fiscal year 2026 capacity in terms of ASKs is expected to grow by high teens as compared to the third quarter of fiscal year 2025. 

Awards and Accolades 

• IndiGo was named the ‘Best Airline in India and South Asia’ by Skytrax at the World Airline  Awards 2025 

• IndiGo received the ‘ICONIC Excellence in Aviation – Best Domestic Airline’ award at the  7th edition of the ICONIC Awards 2025

Conference Call 

The Company will conduct a live audio earnings call today, November 4 at 5 pm IST which will be available  to the public on a listen only mode followed by Q&A session. The dial-in details are given below: 

Dial-in Numbers
Universal Access Primary Number: +91 22 6280 1311 or +91 22 7115 8212
Local Access Primary Number: 1 800 120 1221 
Other Regions USA:  18667462133 UK:  08081011573 Singapore:  8001012045 Hong Kong:  800964448 Japan:  00531161110 
Pre-register at the following URL and get your unique dial-in details for the call
Diamond Pass https://services.choruscall.in/DiamondPassRegistration/register?confirmati onNumber=7310991&linkSecurityString=374db32227

About IndiGo 

IndiGo is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer  fares that are low, flights that are on time, and a courteous, hassle-free travel experience. It had a fleet of 417 aircraft and provided scheduled services to 94 domestic and 41 international destinations as of 30th September 2025. 

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