IndiGo Q2 results: Net profit narrows to ₹1,879 crore; revenue jumps 26% YoY to ₹23,364 crore

Shares of India’s largest passenger aircraft operator, InterGlobe Aviation, which operates domestic and international flights under the brand name IndiGo, announced its quarterly results for the period ended September 2026 after market hours. The shares closed 0.3% lower ahead of the results at ₹4,675 apiece on the NSE ahead of the quarterly earnings release.

IndiGo Q2FY27 results

Country’s largest passenger aircraft carrier, InterGlobe Aviation (IndiGo) posted a notable increase in revenue at ₹23,364 crore, up 25.9% YoY as compared to ₹18,555 crore in the corresponding quarter of last year. The revenue fell just short of market expectations at ₹23,500 crore, a growth of 27% to 30% YoY. On a sequential basis, the revenue dropped 5% from ₹24,584 crore in Q1 FY27.

At the operational level, the company’s performance further improved as the EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped two-fold from ₹543 crore to ₹1,907 crore. Similarly, the EBITDA margin expanded over 500 bps to 8.1%.

The ATF (Air turbine fuel) expenses for the quarter jumped 67% YoY to ₹9,967 crore for the quarter ended September 2026 vs. ₹5,961 crore for the quarter ended September 2025. Aircraft fuel expenses eat up 42% of the revenue from operations during the quarter ended September 2026, as compared to 32% in the quarter ended September 2025.

Besides this, foreign exchange loss during the quarter more than halved to ₹1,333 crore as compared to ₹2,892 crore in the corresponding quarter last year, which led to the majority of the margin growth this year. However, EBITDA excluding foreign exchange gain/loss fell 4.9% YoY.

At the bottomline level, the net loss narrowed down to ₹1,879 crore as compared to ₹2,582 crore in the same period last year.

Commenting on the results Mr. Willie Walsh, CEO, said, “The seasonally soft September quarter saw exceptionally elevated fuel costs and continued geopolitical turmoil. We responded with prudent capacity reduction and yield management, supporting strong revenue performance but only partially offsetting the higher costs. Despite these actions, the quarter resulted in a net loss of around 19 billion rupees”

Key operational metrics

The ASK (available seat kilometer) for the quarter remained largely unchanged at 40.8 billion vs 41.2 billion in the same period a year ago. Similarly, the RPK (Revenue passenger kilometers) also fell 3.7% to 32.8 billion vs 34 billion in the same quarter last year. Consequently, the passenger load factor also dipped to 80.3% as compared to 82.5% in Q2 of FY26.

IndiGo share price performance

Owing to operational headwinds and elevated fuel prices, IndiGo shares have remained under pressure throughout the year. On a YTD basis, the shares fell nearly 9% in 2026 and nearly 20% in trailing tweleve months.