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Interglobe Aviation Results: Latest Quarterly Results & Analysis

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InterGlobe Aviation Ltd. 29 May 2026 17:28 PM

Q4FY26 & FY26 Result Announced for InterGlobe Aviation Ltd.

Airlines company InterGlobe Aviation announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from operations for Q4FY26 was Rs 2,24,384 million, showing a decrease of 4.40% QoQ from Rs 2,34,719 million and an increase of 1.29% YoY from Rs 2,21,519 million.
  • Total income for Q4FY26 stood at Rs 2,38,307 million, representing a decline of 2.89% QoQ from Rs 2,45,406 million and an increase of 3.17% YoY from Rs 2,30,975 million.
  • The company reported a net loss for Q4FY26 of Rs 25,369 million, compared to a net profit of Rs 5,491 million in Q3FY26 and a net profit of Rs 30,675 million in Q4FY25.
  • For the full year ended March 31, 2026 (FY26), revenue from operations reached Rs 8,49,619 million, showing a growth of 5.15% compared to Rs 8,08,029 million in FY25.
  • The total income for FY26 was Rs 8,95,134 million, an increase of 6.44% over Rs 8,40,982 million in FY25.
  • The company reported an annual net loss of Rs 23,936 million for FY26, as against an annual net profit of Rs 72,584 million for FY25.
  • Basic Earnings Per Share (EPS) for FY26 stood at Rs (61.88) compared to Rs 187.93 in FY25.

Standalone Financial Highlights:

  • Revenue from operations for Q4FY26 was Rs 2,24,384 million, representing a 4.40% QoQ decrease and a 1.29% YoY increase.
  • Total income for Q4FY26 stood at Rs 2,38,324 million, down 2.87% QoQ from Rs 2,45,359 million and up 3.15% YoY from Rs 2,31,051 million.
  • The standalone net loss for Q4FY26 was Rs 26,621 million, compared to a net profit of Rs 6,126 million in Q3FY26 and a net profit of Rs 30,734 million in Q4FY25.
  • For the full year FY26, standalone revenue from operations was Rs 8,49,619 million, up 5.15% from Rs 8,08,030 million in FY25.
  • The standalone net loss for FY26 was Rs 25,025 million, compared to a net profit of Rs 72,533 million in FY25.

Business Highlights:

  • Exceptional Items: The company recorded total consolidated exceptional losses of Rs 17,964 million for FY26. This included Rs 12,192 million related to the implementation of the New Labour Codes and Rs 5,772 million related to operational disruptions.
  • Finance Lease Prepayment: The Board approved the partial prepayment of finance lease obligations to its wholly-owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited, for an aggregate amount of up to USD 450 million. These funds will be used for the acquisition of aviation assets, enabling the ownership of aircraft and engines.
  • Segment Performance: Based on the "management approach" as defined in Ind AS 108 – Operating Segments, the Chief Operating Decision Maker evaluates the Group’s performance as one segment, i.e., "air transportation services."
  • Management Changes: Mr. Petrus Johannes Theodorus Elbers resigned as CEO on March 10, 2026. Mr. Aloke Singh was appointed Chief Strategy Officer effective April 6, 2026. Mr. William Walsh was appointed as the Chief Executive Officer and is expected to assume office on August 3, 2026.
  • Tax Exposure: The tax exposure (excluding interest and penalty) for matters disallowed by income tax authorities up to AY 2022-23 amounts to Rs 24,185 million.

Rahul Bhatia, MD, said: “FY26 was marked by an exceptionally challenging operating environment, which materially impacted our profitability. Despite these conditions, the underlying performance of the business remained resilient. During the year, our capacity grew by 9.5% and total income increased by over 6%. Excluding the impact of foreign exchange and exceptional items, IndiGo delivered a profit of Rs 75 billion.

We continue to maintain a strong balance sheet with substantial liquidity, demonstrating resilience through prolonged periods of volatility. I would like to thank our 123 million customers for placing their trust in us, and our 69,000 dedicated IndiGo team members for their extraordinary professionalism. While the near term remains volatile, we remain firmly focused on disciplined execution, cost efficiency, and long-term value creation.”

Result PDF

Airlines company InterGlobe Aviation announced Q3FY26 results

  • Capacity increased by 11.2% to 45.4 billion.
  • Passengers increased by 2.8% to 31.9 million.
  • Yield decreased by 1.8% to Rs 5.33 and load factor decreased by 2.4pts to 84.6%.
  • Revenue from Operations increased by 6.2% to Rs 234,719 million.
  • Fuel CASK reduced by 2.8% to Rs 1.53.
  • CASK ex fuel ex fx increased by 2.2% to Rs 2.96.
  • EBITDAR excluding forex impact of Rs 70,434 million (30.0% EBITDAR margin), compared to EBITDAR excluding forex impact of Rs 74,560 million (33.7% EBITDAR margin).
  • EBITDAR of Rs 60,084 million (25.6% EBITDAR margin), compared to EBITDAR of Rs 60,587 million (27.4% EBITDAR margin).
  • Net profit excluding impact of exceptional items and forex amounted to Rs 31,306 million compared to net profit excluding impact of exceptional items and forex of Rs 38,461 million.
  • Net profit of Rs 5,491 million, compared to net profit of Rs 24,488 million.

Pieter Elbers, CEO, said: “This quarter, the Company faced major operational disruptions that resulted in significant flight cancellations and delays from 3rd to 5th December. We deeply regret the inconvenience faced by our customers and express our heartfelt gratitude for their patience and trust. I also want to thank all IndiGo colleagues who worked tirelessly to stabilize operations—your dedication and ‘service from the heart’ enabled us to return swiftly to normal operations. We are grateful to the Government, Aviation Authorities and all other partners in the Indian aviation ecosystem for their support in helping restore normalcy.

Despite these operational disruptions, IndiGo delivered a topline of around 245 billion rupees in the December quarter, reflecting a growth of around 7% with a reported profit of around 5 billion rupees and an underlying profit excluding exceptional items and forex of 31 billion rupees. We welcomed nearly 32 million customers in this quarter and around 124 million customers in the calendar year 2025. Our long-term fundamentals remain strong, backed by our expanding fleet, growing domestic and international network. As we look ahead, we remain committed to reliability, operational excellence and enhanced customer experience.”

Result PDF

Airlines company InterGlobe Aviation announced Q2FY26 results

  • Capacity increased by 7.8% to 41.2 billion.
  • Passengers increased by 3.6% to 28.8 million.
  • Yield increased by 3.2% to Rs 4.69 and load factor was flat at 82.5%.
  • Revenue from Operations increased by 9.3% to Rs 185,553 million.
  • Reduction in fuel CASK by 16.3% to Rs 1.45.
  • CASK ex fuel ex fx increased by 3.9% to Rs 3.01.
  • EBITDAR excluding forex impact of Rs 38,003 million (20.5% EBITDAR margin), compared to EBITDAR excluding forex impact of Rs 26,668 million (15.7% EBITDAR margin).
  • EBITDAR of Rs 11,143 million (6.0% EBITDAR margin), compared to EBITDAR of Rs 24,340 million (14.3% EBITDAR margin).
  • Net profit excluding forex impact amounted to Rs 1,039 million compared to net loss excluding forex of Rs 7,539 million.
  • Net loss of Rs 25,821 million, compared to net loss of Rs 9,867 million.

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”

Result PDF

Airlines company InterGlobe Aviation announced Q1FY26 results

  • Capacity increased by 16.4% to 42.3 billion
  • Passengers increased by 11.6% to 31.0 million
  • Yield decreased by 5.0% to Rs 4.98 and load factor declined by 2.1 pts to 84.6%
  • Revenue from Operations increased by 4.7% to Rs 204,963 million
  • Reduction in fuel CASK by 21.9% to Rs 1.38
  • CASK ex fuel increased by 2.5% to Rs 2.93
  • EBITDAR of Rs 57,386 million (28.0% EBITDAR margin), compared to EBITDAR of Rs 58,111 million (29.7% EBITDAR margin)
  • Net profit of Rs 21,763 million, compared to net profit of Rs 27,288 million

Pieter Elbers, CEO, said, “The June quarter was shaped by significant external challenges that created headwinds for the entire aviation sector. Despite these industry wide disruptions, we reported a net profit of Rs 21,763 million with a net profit margin of around 11% for the quarter ended June 2025. While the revenue environment saw moderation, demand for air travel held strong as we served more than 31 million passengers during the quarter, reflecting a growth of around 12% on a year-over-year basis.

Looking forward, we remain optimistic about the growth of air travel and with our scale, network and fit for purpose fleet, we remain committed to serve the growing demand”

Result PDF

Airlines company InterGlobe Aviation announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Capacity increased by 21.0% to Rs 42.1 billion
  • Passengers increased by 19.6% to Rs 31.9 million
  • Yield increased by 2.4% to Rs 5.32 and load factor improved by 1.1 pts to 87.4%
  • Revenue from Operations increased by 24.3% to Rs 221,519 million
  • Reduction in fuel CASK by 6.6% to Rs 1.60
  • EBITDAR of Rs 69,482 million (31.4% EBITDAR margin), compared to EBITDAR of Rs 44,123 million (24.8% EBITDAR margin)
  • Net profit of Rs 30,675 million, compared to net profit of Rs 18,948 million

FY25 Financial Highlights:

  • Capacity increased by 13.1% to 157.5 billion
  • Passengers increased by 11.1% to 118.6 million
  • Yield increased by 1.3% to Rs 5.15 and load factor was 86.0%
  • Revenue from Operations increased by 17.3% to Rs 808,029 million
  • Reduction in fuel CASK by 3.1% to Rs 1.66
  • CASK ex fuel increased by 12.5% to Rs 3.00
  • EBITDAR of Rs 212,520 million (26.3% EBITDAR margin), compared to EBITDAR of Rs 175,447 million (25.5% EBITDAR margin)
  • Excluding foreign exchange loss, profit amounted to Rs 88,676 million, compared to profit of Rs 88,897 million
  • Net profit of Rs 72,584 million, compared to net profit of Rs 81,725 million
  • Basic earnings per share of Rs 187.93

Pieter Elbers, CEO, said, “We are proud to report healthy financial performance for this quarter and the financial year 2025 as we reported a net profit of Rs 72,584 million. Our sustained performance is the result of record passenger volumes, operational efficiencies, agility and commitment demonstrated by IndiGo employees. A big thank you to our 118.6 million customers in FY25 for placing their trust in us and to all my IndiGo colleagues for their great work and relentless dedication.

As we build on this momentum, we will continue to focus on cost leadership and further Internationalization with the start of our European operations.

I am very pleased that the trust and continued support of our shareholders during the challenging covid period and beyond can now be rewarded with a recommended dividend of 10 rupees per share. Further, our continued performance and strong balance sheet has also been recognized by a leading International credit rating agency by assigning an Investment grade credit rating”

Result PDF

Airlines company InterGlobe Aviation announced Q3FY25 results

  • Capacity increased by 12.0% to 40.8 billion.
  • Passengers increased by 12.7% to 31.1 million.
  • Unit passenger revenue (PRASK) up by 0.3% to Rs 4.72.
  • Revenue from Operations increased by 13.7% to Rs 221,107 million.
  • CASK has increased by 6.8% to Rs 4.83 (CASK ex fuel ex fx increased by 10.1% to Rs 2.90).
  • EBITDAR of Rs 60,587 million (27.4% EBITDAR margin), compared to EBITDAR of Rs 54,751 million (28.1% EBITDAR margin).
  • EBITDAR excluding forex impact of Rs 74,560 million (33.7% margin), compared to EBITDAR excluding forex impact of Rs 55,260 million (28.4% margin).
  • Net profit of Rs 24,488 million, compared to net profit of Rs 29,981 million.
  • Cash and Debt:
    • IndiGo had a total cash balance of Rs 4,37,808 million comprising Rs 2,89,035 million of free cash and Rs 1,48,773 million of restricted cash.
    • The capitalized operating lease liability was Rs 4,95,937 million. The total debt (including the capitalized operating lease liability) was Rs 6,51,385 million.
  • Network and Fleet:
    • As of 31st December 2024, fleet of 437 aircraft including 45 A320 CEOs (19 damp lease and 6 secondary leases), 199 A320 NEOs, 128 A321 NEOs, 48 ATRs, 3 A321 freighters, 12 B737 (damp lease) and 2 B777 (damp lease); a net increase of 27 passenger aircraft during the quarter.
    • IndiGo operated at a peak of 2,200 daily flights during the quarter including non-scheduled flights.
    • During the quarter, provided scheduled services to 89 domestic destinations and 34 international destinations.
  • IndiGo had a Technical Dispatch Reliability of 99.89%.
  • IndiGo had an on-time performance of 73.3% at four key metros and flight cancellation rate of 0.97%.

Pieter Elbers, CEO, said: “We delivered a strong Q3FY25, both operationally and financially. We reported a total income of Rs 230 billion, reflecting a growth of 15 percent and profit excluding the impact of currency movement of Rs 38.5 billion. Including currency impact, we reported a profit of Rs 24.5 billion highlighting effective execution of our clear and well-defined strategy. These results were driven by robust demand in the market and our ability to cater to that demand supported by lower fuel prices.

We touched new milestones as we operated a peak of 2,200 daily flights and served a record 31.1 million passengers during the quarter. We will continue the growth path to offer our customers with options to conveniently fly to the destination of their choice.”

Result PDF

Airlines company InterGlobe Aviation announced Q2FY25 results

  • Capacity increased by 8.2% to 38.2 billion.
  • Passengers increased by 5.8% to 27.8 million.
  • Yield increased by 2.3% to Rs 4.55 and load factor reduced by 0.6 pts to 82.6%.
  • Revenue from Operations increased by 13.6% to Rs 1,69,696 million.
  • Fuel CASK increased by 4.2% to Rs 1.73.
  • CASK ex fuel increased by 16.8% to Rs 2.96.
  • EBITDAR of Rs 24,340 million (14.3% EBITDAR margin), compared to EBITDAR of Rs 24,465 million (16.4% EBITDAR margin).
  • Net loss of Rs 9,867 million, compared to net profit of Rs 1,889 million.

Pieter Elbers, CEO, InterGlobe Aviation, said: “IndiGo’s growth and expansion continued as our topline grew by 14.6 percent on a year over year basis, in the second quarter to 178 billion rupees. In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs. We have turned the corner as the number of grounded aircraft and associated costs have started reducing.

We continue to capitalize on the growth of the Indian market and associated opportunities and at the same time remain a cost leader in this competitive market. It marks a proud moment for us as we launch our business class two weeks from now and offer a new experience to our customers. We are receiving positive response to our recently launched loyalty rewards program – IndiGo BluChip. I would like to extend my gratitude to our 6E family for their continuous efforts in making IndiGo India’s preferred airline and courteously serving 28 million customers during the quarter.”

Result PDF

Airlines company InterGlobe Aviation announced Q1FY25 results:

Financial Highlights:

  • Capacity increased by 11.1% to 36.3 billion
  • Passengers increased by 6.2% to 27.8 million
  • Yield increased by 1.3% to Rs 5.24 and load factor reduced by 1.9 pts to 86.7%
  • Revenue from Operations increased by 17.3% to Rs 1,95,707 million
  • Fuel CASK increased by 10.5% to Rs 1.77
  • CASK ex fuel increased by 11.1% to Rs 2.86
  • EBITDAR of Rs 58,111 million (29.7% EBITDAR margin), compared to EBITDAR of Rs 52,108 million (31.2% EBITDAR margin)
  • Excluding foreign exchange loss, profit amounted to Rs 27,863 million compared to profit of Rs 29,745 million
  • Net profit of Rs 27,288 million, compared to net profit of Rs 30,906 million

Operation Highlights:

  • IndiGo had a Technical Dispatch Reliability of 99.89%.
  • IndiGo had an on-time performance of 74.8% at four key metros and flight cancellation rate of 1.1%.

Pieter Elbers, CEO, said, “I am pleased to report another strong quarterly financial performance for the first quarter of financial year 2025. A continued growth in total income of 18 percent as compared to the same period last year to 202.5 billion rupees and a net profit of 27.3 billion rupees, resulting in a solid margin of around 14 percent.

I want to extend heartfelt gratitude to our 28 million customers this quarter for their continued loyalty and choosing IndiGo for their travels. In a few days, we will celebrate our 18th anniversary wherein we will unveil our recently announced new initiatives to address the evolving market developments and our customers’ feedback. I would also like to thank all my 6E colleagues for their continued dedication, professionalism, and commitment in serving our customers.”

Result PDF

Airlines company InterGlobe Aviation announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Capacity increased by 14.4% to 34.8 billion
  • Passengers increased by 14.0% to 26.7 million
  • Yield increased by 7.0% to Rs 5.19 and load factor improved by 2.1 pts to 86.3%
  • Revenue from Operations increased by 25.9% to Rs 1,78,253 million
  • Reduction in fuel CASK by 6.9% to Rs 1.72
  • CASK ex fuel increased by 14.7% to Rs 2.90
  • EBITDAR of Rs 44,123 million (24.8% EBITDAR margin), compared to EBITDAR of Rs 29,665 million (20.9% EBITDAR margin)
  • Excluding foreign exchange loss, profit amounted to Rs 20,602 million compared to profit of Rs 6,664 million
  • Net profit of Rs 18,948 million, compared to net profit of Rs 9,192 million

FY24 Financial Highlights:

  • Capacity increased by 21.8% to 139.3 billion
  • Passengers increased by 24.7% to 106.7 million
  • Yield decreased by 1.0% to Rs 5.08 and load factor improved by 3.8 pts to 85.9%
  • Revenue from Operations increased by 26.6% to Rs 6,89,043 million
  • Reduction in fuel CASK by 17.0% to Rs 1.72
  • CASK ex fuel decreased by 3.6% to Rs 2.66
  • EBITDAR of Rs 1,75,447 million (25.5% EBITDAR margin), compared to EBITDAR of Rs 73,116 million (13.4% EBITDAR margin)
  • Excluding foreign exchange loss, profit amounted to Rs 88,899 million compared to profit of Rs 26,540 million
  • Net profit of Rs 81,725 million, compared to net loss of Rs 3,058 million
  • Basic earnings per share of Rs 211.84

Pieter Elbers, CEO, said, “FY24 has been a year of many remarkable achievements and milestones. For the full financial year 2024, we reported our highest ever total income of around 712 billion rupees with a net profit of around 82 billion rupees and a net profit margin of 11.9%. The 4th quarter financial results were positive, making it all four quarters in FY24 profitable. The strong execution of our strategy has yielded consistent results for us as we achieved the targets that we had set for ourselves as a team at the beginning of the year. My sincere gratitude to our 107 million customers for placing their trust in us and to all my IndiGo colleagues for their great work and relentless dedication.”

Result PDF

Airlines company InterGlobe Aviation announced Q3FY24 results:

Financial Highlights
- Net profit: Rs 29,981 million for Q3FY24, with robust demand driving profitability for five consecutive quarters.
- Revenue from Operations: Increased by 30.3% to Rs 1,94,521 million.
- Yield: Increased by 2.0% to Rs 5.48.
- Load Factor: Improved by 0.7 points to 85.8%.
- Reduction in Fuel CASK: By 6.7% to Rs 1.88.
- CASK ex-fuel: Decreased by 4.2% to Rs 2.64.
- EBITDAR: Rs 54,751 million (28.1% EBITDAR margin), a significant increase from the previous year.

Operational Metrics
- Capacity increased by 26.8%.
- Passengers carried: Increased by 23.4% to 27.5 million.
- The fleet consisted of 358 aircraft as of December 31, 2023.

Cash and Debt
- Total Cash Balance: Rs 3,24,280 million (comprising Rs 191,996 million of free cash).
- Total Debt: Rs 511,875 million (including capitalized operating lease liability).

Network and Fleet Expansion
- IndiGo operated a peak of 2,016 daily flights and served 86 domestic and 29 international destinations.
- The fleet expanded by a net addition of 23 passenger aircraft and 1 freighter during the quarter.

Operational Performance
- Technical Dispatch Reliability: 99.91%
- On-time Performance: 78% at key metros.
- Flight Cancellation Rate: 0.94%

Company’s CEO, Pieter Elbers said, “For the third quarter of financial year 2024, we reported a profit after tax of 30 billion rupees with a profit after tax margin of 15.4%. With these 5 consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again.

This series of profitable growth is attributable to the confidence shown by passengers who chose to fly with us. We are grateful for our customers’ confidence and our thousands of employees who continue to put their best foot forward each day to serve them.

The year 2023 was marked by numerous milestones. We served 100 million plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations. Each achievement is a testament to our focused strategy, loyalty of our customers and dedication of 6E employees.”

 

 

Result PDF

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