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InterGlobe Aviation Ltd, the operator of IndiGo, on Tuesday (November 4) reported a net loss of ₹2,582 crore for the quarter ended September 2025, compared with a loss of ₹988.8 crore in the same period last year.
Revenue from operations rose 9.3% year-on-year to ₹18,555 crore from ₹16,969 crore in the corresponding quarter of the previous year. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 85% year-on-year to ₹3,472 crore against ₹1,873 crore a year ago. The company’s EBITDA margin stood at 18.7%, up from 11% in the same quarter last year.
Tax expense for the quarter stood at ₹100 crore, compared with ₹80 crore in the year-ago period. Rental and aircraft maintenance charges rose to ₹3,262 crore from ₹2,745 crore a year earlier.
The company also reported a forex loss of ₹2,892 crore against a loss of ₹241 crore in the same period last year. EBITDAR excluding forex increased 43% year-on-year to ₹3,800 crore, with EBITDAR margin (excluding forex) improving to 20.5% from 15.7% a year ago.
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For the quarter ended September 30, 2025, IndiGo saw its capacity increase 7.8% to 4,120 crore available seat kilometres (ASKs), while passenger traffic grew 3.6% to 2,880 lakh. Yield improved 3.2% to ₹4.69, and the load factor remained steady at 82.5%. Fuel cost per available seat kilometre (CASK) fell 16.3% to ₹1.45, while CASK excluding fuel and forex increased 3.9% to ₹3.01.
Total income for the quarter rose 10.4% to ₹19,600 crore, driven by passenger ticket revenues of ₹15,967 crore, up 11.2%, and ancillary revenues of ₹2,141 crore, up 14.2% year-on-year. Total expenses increased 18.3% to ₹22,081 crore.
As of September 30, 2025, IndiGo had total cash of ₹5,352 crore, including ₹3,852 crore of free cash and ₹1,499 crore of restricted cash. The capitalised operating lease liability was ₹4,965 crore, bringing total debt, including the lease liability, to ₹7,481 crore.
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IndiGo operated a fleet of 417 aircraft, including 30 A320 CEOs (4 damp lease), 180 A320 NEOs, 153 A321 NEOs, 47 ATRs, 3 A321 freighters, and 4 B777/B787 damp lease aircraft, reflecting a net addition of one passenger aircraft during the quarter. The airline operated a peak of 2,244 daily flights, serving 94 domestic and 41 international destinations.
Operational performance remained strong, with technical dispatch reliability at 99.89%, on-time performance of 89.8% across six key metros, and a flight cancellation rate of 0.5%. For the third quarter of fiscal year 2026, IndiGo expects capacity growth in ASKs to be in the high teens compared with the same period in FY25.
Pieter Elbers, CEO, said, "Our optimised capacity deployment has enabled us to deliver a 10% growth in topline revenue and, excluding the impact of currency movement, an operational profit of 104 crore rupees as compared to an operational loss last year.
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As India’s aviation sector continues to grow and mature, we recognise the importance of structurally optimising 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."
Shares of Interglobe Aviation Ltd ended at ₹5,635.00, down by ₹60.20, or 1.06%, on the BSE.
