Exceptional item related to implementation of new labour laws aggregating INR 9,693 million

For the quarter ended December 31, 2025, IndiGo reported total revenue of INR 245,406 million and a net profit of INR 5,491 million, compared to INR 24,488 million during the same period last year.

Excluding the impact of

·         Exceptional item related to implementation of new labour laws aggregating INR 9,693 million

·         Exceptional items related to operational disruptions aggregating INR 5,772 million and

·         Currency movement pertaining to dollar-based future obligations aggregating INR 10,350

 

IndiGo delivered a net profit of INR 31,306 million, compared to INR 38,461 million during the same quarter last year.

Chandigarh, January 22, 2026: InterGlobe Aviation Ltd. (“IndiGo”) today reported its third quarter of fiscal year 2026 results.

For the quarter ended December 31, 2025, compared to the same period last year (on a consolidated basis)

·      Capacity increased by 11.2% to 45.4 billion

·      Passengers increased by 2.8% to 31.9 million

·      Yield decreased by 1.8% to INR 5.33 and load factor decreased by 2.4pts to 84.6%

·      Revenue from Operations increased by 6.2% to INR 234,719 million

·      Fuel CASK reduced by 2.8% to INR 1.53

·      CASK ex fuel ex fx increased by 2.2% to INR 2.96

·      EBITDAR excluding forex impact of INR 70,434 million (30.0% EBITDAR margin), compared to EBITDAR excluding forex impact of INR 74,560 million (33.7% EBITDAR margin)

·      EBITDAR of INR 60,084 million (25.6% EBITDAR margin), compared to EBITDAR of INR 60,587 million (27.4% EBITDAR margin)

·      Net profit excluding impact of exceptional items and forex amounted to INR 31,306 million compared to net profit excluding impact of exceptional items and forex of INR 38,461 million

·      Net profit of INR 5,491 million, compared to net profit of INR 24,488 million

 

Profitability Metrics

 

Particulars (INR mn)

Quarter ended

Dec’25

Dec’24

Change

EBITDAR

60,084

60,587

-0.8%

EBITDAR excluding foreign exchange*

70,434

74,560

-5.5%

PBT

5,622

25,271

-77.8%

PAT

5,491

24,488

-77.6%

Profit excluding foreign exchange*

15,841

38,461

-58.8%

Profit excluding foreign exchange and exceptional items

31,306

38,461

-18.6%

* Net of gain on forex hedging INR 784 million and INR 591 million for quarter ended Dec’25 and Dec’24 respectively

Operational Metrics*

 

Particulars

Quarter ended

Dec’25

Dec’24

Change

ASK (billion)

45.4

40.8

+11.2%

RPK (billion)

38.4

35.5

+8.2%

Load Factor

84.6%

86.9%

-2.4 pts

Passengers (million)

31.9

31.1

+2.8%

*Include non-scheduled operations

Mr. 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.”

 

Revenue and Cost Comparisons

Total income for the quarter ended December 2025 was INR 245,406 million, an increase of 6.7% over the same period last year. For the quarter, our passenger ticket revenues were INR 204,640 million, an increase of 6.2% and ancillary revenues were INR 24,462 million, an increase of 13.6% compared to the same period last year.

 

Particulars (INR mn)

Quarter ended

Dec’25

Dec’24

Change

Revenue from operations

234,719

221,107

+6.2%

Other income

10,687

8,821

+21.2%

Total income

245,406

229,928

+6.7%

RASK* (INR)

5.20

5.44

-4.5%

Yield (INR/Km)

5.33

5.43

-1.8%

*Net of finance income of INR 9,370 million and INR 7,605 million for quarter ended Dec’25 and Dec’24 respectively

Total expenses for the quarter ended December 2025 were INR 224,319 million, an increase of 9.6% over the same quarter last year.

 

Particulars (INR mn)

Quarter ended

Dec’25

Dec’24

Change

Fuel cost

69,445

64,226

+8.1%

Other costs excluding fuel

154,874

140,431

+10.3%

Total cost

224,319

204,657

+9.6%

CASK* (INR)

4.73

4.83

-1.9%

CASK ex fuel* (INR)

3.20

3.25

-1.5%

CASK ex fuel ex forex* (INR)

2.96

2.90

+2.2%

* Net of finance income of INR 9,370 million and INR 7,605 million for quarter ended Dec’25 and Dec’24 respectively

Exceptional items for the quarter ended December 2025 were INR 15,465 million, include estimated provision towards implementation of new labour laws of INR 9,693 million, costs related to operational disruptions of INR 5,550 million and penalty of INR 222 million as per the DGCA order.

 

 

Cash and Debt

As of 31st December 2025

·            IndiGo had a total cash balance of INR 516,069 million comprising INR 369,445 million of free cash and INR 146,624 million of restricted cash.

·            The capitalized operating lease liability was INR 524,784 million. The total debt (including the capitalized operating lease liability) was INR 768,583 million.

 

Network and Fleet

·            As of 31st December 2025, fleet of 440 aircraft including 27 A320 CEOs (1 damp lease), 180 A320 NEOs, 171 A321 NEOs (3 damp lease), 1 A321XLR, 46 ATRs, 3 A321 freighters, 2 B777 (damp lease), 5 B737 (damp lease) and 5 B787 (damp lease); a net increase of 23 passenger aircraft during the quarter.

·            IndiGo operated at a peak of 2,344 daily flights during the quarter including non-scheduled flights.

·            During the quarter, provided scheduled services to 96 domestic destinations and 44 international destinations.

 

Operational Performance

 

·            For the period October’25-December’25, IndiGo had a Technical Dispatch Reliability of 99.9%.

·            For the period October’25-November’25, IndiGo had an on-time performance of 76.6% at six key metros and flight cancellation rate of 1.03%.

 

Future Capacity Growth

 

·            Fourth quarter of fiscal year 2026 capacity in terms of ASKs is expected to grow around 10% as compared to the fourth quarter of fiscal year 2025.

 

Awards and Accolades

 

·            IndiGo has been awarded in the category of ‘Excellence in Engagement” at the oneDXB

Airport Excellence Awards 2025

·            IndiGo has been awarded ‘Airline of the Year (Indian)’ at the 6th Annual South-East Air Cargo Conclave & Awards 2025

Conference Call

The Company will conduct a live audio earnings call today, January 22 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: UK:

Singapore: Hong Kong: Japan:

18667462133

08081011573

8001012045

800964448

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?confirmationNum  ber=9231871&linkSecurityString=48a41e15fd