InterGlobe Aviation (IndiGo) Q2 Results: Net loss widens to ₹2,582 crore due to forex impact; revenue grows 9.3%

The company had posted a loss of ₹986.7 crore in the year-ago period.

The company, in its press release, said, "Including the impact of currency movement pertaining to dollar-based future obligations, the net loss for the quarter aggregated to ₹25,821 million."

Excluding the impact of currency movement, IndiGo reported a net profit of ₹1,039 million (103.9 crore) as compared to a net loss of ₹7,539 million (₹753.9 crore) during the same period last year.

Its revenue from operations grew 9.3% to ₹18,555.3 crore against ₹16,969.6 logged in the corresponding quarter of the previous fiscal year.

Total income came in at ₹19,599.5 crore, up 10.4% YoY.

EBITDAR excluding the forex impact came in at ₹3,800.3 crore (20.5% EBITDAR margin), compared to EBITDAR excluding the forex impact of ₹2,666.8 crore (15.7% EBITDAR margin).

Otherwise, EBITDAR came in at ₹1,114.3 crore (6.0% EBITDAR margin), compared to EBITDAR of ₹2,434.0 crore (14.3% EBITDAR margin).

EBITDAR is an acronym for earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs.

It’s a financial metric used to measure a company’s operating performance by removing the effects of financing decisions, accounting charges, and (in this case) rent or restructuring expenses, which can vary widely between companies.

Yield increased by 3.2% to ₹4.69, and load factor was flat at 82.5%.

In aviation, "yield" refers to the average revenue an airline earns per passenger per kilometre.

CASK, or cost per available seat kilometre, excluding the forex impact, grew by 3.9% to ₹3.01.

CASK is a key efficiency metric used in the aviation industry to measure how much it costs an airline to operate one seat for one kilometre, regardless of whether that seat is filled.

Operational Metrics*

*Includes non-scheduled operations

IndiGo Q2: What the CEO said

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. 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.

“The year began with significant external challenges across the industry, but we saw stabilisation in July and a strong recovery through August and September. Looking ahead, we have scaled up our operational plans for the second half to meet demand and continue driving growth. With that we have nudged up our capacity guidance for the full financial year 2026 to early teens growth,” Elbers added.