By 121 News
Chandigarh , May 29, 2026:- InterGlobe Aviation Ltd. (“IndiGo”) today reported its fourth quarter and fiscal year 2026 results.
For the quarter ended March 31, 2026, compared to the same period last year (on a consolidated basis)
· Capacity increased by 3.4% to 43.6 billion ASKs, despite disruptions arising from the ongoing conflict in the Middle East.
· Passengers declined marginally by 1.1% to 31.6 million.
· Yield decreased by 2.2% to INR 5.20 and load factor decreased by 1.7pts to 85.8%
· Revenue from Operations increased by 1.3% to INR 224,384 million
· Fuel CASK reduced by 4.8% to INR 1.53
· CASK ex fuel ex fx increased by 7.3% to INR 3.15
· EBITDAR excluding forex impact of INR 64,354 million (28.7% EBITDAR margin), compared to EBITDAR excluding forex impact of INR 68,618 million (31.0% EBITDAR margin)
· EBITDAR of INR 22,278 million (9.9% EBITDAR margin), compared to EBITDAR of INR 69,482 million (31.4% EBITDAR margin)
· Net profit excluding impact of exceptional items and forex amounted to INR 19,206 million compared to net profit excluding impact of exceptional items and forex of INR 29,811 million
· Net loss of INR 25,369 million, compared to net profit of INR 30,675 million
For the year ended March 31, 2026, compared to year ended March 31, 2025 (on a consolidated basis)
· Capacity increased by 9.5% to 172.4 billion
· Passengers increased by 4.0% to 123.4 million against a seat growth of 5.2%
· Yield decreased by 1.7% to INR 5.06 and load factor decreased by 1.6pts to 84.4%
· Revenue from Operations increased by 5.1% to INR 849,619 million
· Fuel CASK reduced by 11.5% to INR 1.47
· CASK ex fuel ex fx increased by 3.8% to INR 3.00.
· EBITDAR excluding forex impact of INR 231,889 million (27.3% EBITDAR margin), compared to EBITDAR excluding forex impact of INR 228,612 million (28.3% EBITDAR margin)
· EBITDAR of INR 150,892 million (17.8% EBITDAR margin), compared to EBITDAR of INR 212,520 million (26.3% EBITDAR margin)
· Net profit excluding impact of exceptional items and forex amounted to INR 75,025 million compared to net profit excluding impact of exceptional items and forex of INR 88,676 million
· Net loss of INR 23,936 million, compared to net profit of INR 72,584 million
· Basic earnings per share of negative INR 61.88
Profitability Metrics
Particulars (INR mn)
Quarter ended
Mar’26
Mar’25
Change
EBITDAR
22,278
69,482
-67.9%
EBITDAR excluding foreign exchange*
64,354
68,618
-6.2%
PBT
(23,517)
31,694
-174.2%
PAT
(25,369)
30,675
-182.7%
Profit excluding foreign exchange*
16,707
29,811
-44.0%
Profit excluding foreign exchange and exceptional items
19,206
29,811
-35.6%
* Net of gain on forex hedging INR 6,153 million and loss of INR 502 million for quarter ended Mar’26 and Mar’25 respectively
Particulars (INR mn)
Full year
Mar’26
Mar’25
Change
EBITDAR
150,892
212,520
-29.0%
EBITDAR excluding foreign exchange*
231,889
228,612
+1.4%
PBT
(19,605)
75,934
-125.8%
PAT
(23,936)
72,584
-133.0%
Profit excluding foreign exchange*
57,061
88,676
-35.7%
Profit excluding foreign exchange and exceptional items
75,025
88,676
-15.4%
* Net of gain on forex hedging INR 8,760 million and INR 87 million for year ended Mar’26 and Mar’25 respectively
Operational Metrics*
Particulars
Quarter ended
Mar’26
Mar’25
Change
ASK (billion)
43.6
42.1
+3.4%
RPK (billion)
37.4
36.8
+1.5%
Load Factor
85.8%
87.4%
-1.7 pts
Passengers (million)
31.6
31.9
-1.1%
*Include non-scheduled operations
Particulars
Full year
Mar’26
Mar’25
Change
ASK (billion)
172.4
157.5
+9.5%
RPK (billion)
145.5
135.4
+7.5%
Load Factor
84.4%
86.0%
-1.6 pts
Passengers (million)
123.4
118.6
+4.0%
*Include non-scheduled operations
Rahul Bhatia, MD, said that FY26 was marked by an exceptionally challenging operating environment, which materially impacted our profitability. Despite these conditions, the underlying performance of the business remained resilient.During the year, our capacity grew by 9.5% and total income increased by over 6%. Excluding the impact of foreign exchange and exceptional items, IndiGo delivered a profit of INR 75 billion. He added that we continue to maintain a strong balance sheet with substantial liquidity, demonstrating resilience through prolonged periods of volatility. I would like to thank our 123 million customers for placing their trust in us, and our 69,000 dedicated IndiGo team members for their extraordinary professionalism. While the near term remains volatile, we remain firmly focused on disciplined execution, cost efficiency, and long-term value creation.
Revenue and Cost Comparisons
Total income for the quarter ended March 2026 was INR 238,307 million, an increase of 3.2% over the same period last year. For the quarter, our passenger ticket revenues were INR 194,258 million, a decrease of 0.7% and ancillary revenues were INR 23,515 million, an increase of 9.2% compared to the same period last year.
Particulars (INR mn)
Quarter ended
Mar’26
Mar’25
Change
Revenue from operations
224,384
221,519
+1.3%
Other income
13,923
9,456
+47.2%
Total income
238,307
230,975
+3.2%
RASK* (INR)
5.30
5.26
+0.8%
Yield (INR/Km)
5.20
5.32
-2.2%
*Net of finance income of INR 7,374 million and INR 9,509 million for quarter ended Mar’26 and Mar’25 respectively
Particulars (INR mn)
Full year
Mar’26
Mar’25
Change
Revenue from operations
849,619
808,029
+5.1%
Other income
45,515
32,953
+38.1%
Total income
895,134
840,982
+6.4%
RASK* (INR)
4.99
5.14
-3.0%
Yield (INR/Km)
5.06
5.15
-1.7%
*Net of finance income of INR 35,304 million and INR 31,119 million for year ended Mar’26 and Mar’25 respectively
Total expenses for the quarter ended March 2026 were INR 259,325 million, an increase of 30.1% over the same quarter last year.
Particulars (INR mn)
Quarter ended
Mar’26
Mar’25
Change
Fuel cost
66,503
67,530
-1.5%
Other costs excluding fuel
192,822
131,751
+46.4%
Total cost
259,325
199,281
+30.1%
CASK* (INR)
5.78
4.51
+28.3%
CASK ex fuel* (INR)
4.26
2.90
+46.6%
CASK ex fuel ex forex* (INR)
3.15
2.94
+7.3%
* Net of finance income of INR 7,374 million and INR 9,509 million for quarter ended Mar’26 and Mar’25 respectively
Particulars (INR mn)
Full year
Mar’26
Mar’25
Change
Fuel cost
253,892
261,973
-3.1%
Other costs excluding fuel
642,883
503,075
+27.8%
Total cost
896,775
765,048
+17.2%
CASK* (INR)
5.00
4.66
+7.2%
CASK ex fuel* (INR)
3.52
3.00
+17.6%
CASK ex fuel ex forex* (INR)
3.00
2.89
+3.8%
* Net of finance income of INR 35,304 million and INR 31,119 million for year ended Mar’26 and Mar’25 respectively
Exceptional items for the quarter ended March 2026 were INR 2,499 million, reflecting an incremental provision for new labour laws, following a reassessment in line with latest developments during the quarter.
Cash and Debt
As of 31st March 2026
· IndiGo had a total cash balance of INR 516,506 million comprising INR 362,163 million of free cash and INR 154,343 million of restricted cash.
· The capitalized operating lease liability was INR 534,608 million. The total debt (including capitalized operating lease liability) was INR 777,492 million.
Network and Fleet
· As of 31st March 2026, fleet of 441 aircraft including 31 A320 CEOs (5 damp lease), 177 A320 NEOs, 172 A321 NEOs (4 damp lease), 1 A321XLR, 46 ATRs, 3 A321 freighters, 5 B737 (damp lease) and 6 B787 (damp lease); a net increase of 1 passenger aircraft during the quarter.
· IndiGo operated at a peak of 2,241 daily flights during the quarter including non-scheduled flights.
· During the quarter, provided scheduled services to 97 domestic destinations and 45 international destinations.
Operational Performance
· For the period January’26-March’26, IndiGo had a Technical Dispatch Reliability of 99.9%.
· For the period January’26-March’26, IndiGo had an on-time performance of 79.9% at 10 major airports and flight cancellation rate of 0.6%.
Future Capacity Growth
· First quarter of fiscal year 2027 capacity in terms of ASKs is expected to grow around 3-4% as compared to the first quarter of fiscal year 2026.
Awards and Accolades
· IndiGo has been recognized as the ‘Best Aviation Service Provider’ at the prestigious Wings India 2026
· IndiGo has been honoured with the “Highest Domestic Uplift Airline Cargo for 2025’ award at International Cargo Business Summit 2026
· IndiGo ranked #1 among India’s Most Sustainable Companies in the Aerospace, Aviation & Defense sector for FY2024-25 at the BW Businessworld IMSC Awards 2026
· IndiGo was recognized across three prestigious industry platforms for its tailor-made business product, IndiGoStretch
• TravelPlus Airline Amenity Awards 2026
• Onboard Hospitality Awards 2026
• PAX International Readership Award 2026
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