InterGlobe Aviation Ltd, the parent company of IndiGo, reported a consolidated net loss of ₹1,879 crore for the quarter ended September 2026 (Q2 FY27). The loss narrowed by 27.2% compared with ₹2,582 crore in the corresponding quarter last year, as strong revenue growth partially offset rising aviation fuel costs and rupee depreciation.
India’s largest airline by market share recorded a 25.9% year-on-year increase in revenue from operations to ₹23,364 crore, up from ₹18,555 crore a year earlier. The growth was supported by higher passenger yields and disciplined capacity deployment.Despite the narrower reported loss, underlying profitability remained under pressure. Excluding foreign exchange effects, IndiGo recorded a net loss of ₹723.7 crore, compared with a profit of ₹103.9 crore in the year-ago quarter.The airline’s earnings before interest, tax, depreciation, amortisation and rent (EBITDAR) rose 120.8% to ₹2,459.9 crore from ₹1,114.3 crore, while its EBITDAR margin increased to 10.5% from 6%. However, EBITDAR excluding foreign exchange effects declined 4.9% to ₹3,615.3 crore, with the corresponding margin contracting to 15.5% from 20.5%.Elevated fuel expenses remained a major challenge. IndiGo’s fuel cost per available seat kilometre (fuel CASK) surged 68.9% year-on-year to ₹2.44. Meanwhile, CASK excluding fuel and foreign exchange effects increased 14.6% to ₹3.45.Total expenses climbed 18.6% to ₹26,188 crore, compared with ₹22,081 crore in the same quarter last year. IndiGo attributed the pressure on profitability to exceptionally high aviation fuel prices, rupee depreciation and continued geopolitical uncertainty.
