InterGlobe Aviation, the parent company of India’s largest airline IndiGo, reported a net loss of ₹2,582 crore for Q2 FY 2025-26, compared with a loss of ₹987 crore in the same quarter last year. The company’s performance was heavily impacted by foreign exchange (forex) losses, despite a 9.3% year-on-year rise in revenue to ₹18,555 crore.

Key Financial Highlights:

• Revenue from operations: ₹18,555 crore, up 9.3% YoY
• EBITDAR: ₹1,114 crore, down from ₹2,434 crore; margin fell to 6% from 14.3%
• Total expenses: ₹22,081 crore, up 18.3% YoY, mainly due to forex losses of ₹2,892 crore (1,102% increase YoY)
• Depreciation & amortization: ₹2,640 crore, up 26.5% YoY
• Finance costs: ₹1,465 crore, up 18.1% YoY
• Supplementary rentals & maintenance: ₹3,263 crore, up 18.9% YoY
• Fuel expenses: ₹5,962 crore, down 9.7% YoY

Excluding forex losses, IndiGo’s adjusted EBITDAR would have been ₹3,800 crore, with a margin of 20.5%, and the airline would have posted a net profit of ₹103.9 crore.

Operational Metrics:

• Capacity: 41.2 billion ASK, up 7.8% YoY
• Passenger numbers: 28.8 million, up 3.6% YoY
• Fleet size: 417 aircraft, including 180 A320neo, 26 A320ceo, 153 A321neo, 47 ATRs, and 3 A321 freighters
• Lease arrangements: 62 under finance lease, 333 operating lease, 8 damp lease

CEO Pieter Elbers stated that despite early-year challenges, the airline saw stabilization in July and strong recovery in August-September. The company has scaled up its operational plans for the second half of FY 2026, with capacity guidance now expected to grow in the “early teens” percentage range.

The report highlights that foreign exchange fluctuations masked an otherwise profitable quarter, emphasizing the operational resilience of IndiGo.