New Delhi [India], May 29 (ANI): InterGlobe Aviation, the parent company of IndiGo, reported a net loss of Rs 23,936 million for the financial year ended March 2026, as exceptionally sharp rupee depreciation, changes in labour laws and a challenging operating environment offset gains from higher revenue and capacity growth.
The airline also reported a net loss of Rs 25,369 million for the quarter ended March 2026, compared with a net profit of Rs 30,675 million in the corresponding quarter of the previous year.
“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,” IndiGo Managing Director Rahul Bhatia said in a statement.
The company said that, excluding the impact of foreign exchange and exceptional items, it reported a net profit of Rs 75,025 million for FY26. For the March quarter, net profit excluding the impact of exceptional items and foreign exchange stood at Rs 19,206 million.
During FY26, IndiGo expanded its operations, with capacity increasing 9.5 per cent year-on-year to 172.4 billion available seat kilometres (ASKs), while total income grew 6.4 per cent to Rs 895,134 million.
Revenue from operations increased 5.1 per cent to Rs 849,619 million during the year, while passenger traffic rose 4 per cent to 123.4 million.
Bhatia said, “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 INR 75 billion.”
For the March quarter, capacity increased 3.4 per cent to 43.6 billion ASKs despite disruptions arising from the ongoing conflict in the Middle East. Revenue from operations rose 1.3 per cent to Rs 224,384 million.
Passenger numbers, however, declined marginally by 1.1 per cent to 31.6 million during the quarter. Yield, which reflects average fare realisation, fell 2.2 per cent to Rs 5.20, while load factor declined 1.7 percentage points to 85.8 per cent.
The company said total expenses for the March quarter increased 30.1 per cent year-on-year to Rs 259,325 million. While fuel costs declined 1.5 per cent, other costs excluding fuel rose 46.4 per cent.
IndiGo said exceptional items for the quarter amounted to Rs 2,499 million, reflecting an incremental provision for new labour laws following a reassessment in line with the latest developments during the quarter.
As of March 31, 2026, IndiGo had a total cash balance of Rs 516,506 million, comprising Rs 362,163 million of free cash and Rs 154,343 million of restricted cash. Total debt, including capitalised operating lease liabilities, stood at Rs 777,492 million.
The airline operated a fleet of 441 aircraft at the end of FY26 and provided scheduled services to 97 domestic and 45 international destinations.
“We continue to maintain a strong balance sheet with substantial liquidity, demonstrating resilience through prolonged periods of volatility,” Bhatia said.
“While the near term remains volatile, we remain firmly focused on disciplined execution, cost efficiency, and long-term value creation,” he added.
The airline expects capacity in the first quarter of FY27 to grow around 3-4 per cent compared with the corresponding quarter of FY26. (ANI)