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Informist, Tuesday, Nov. 4, 2025

 

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--InterGlobe Aviation Jul-Sept net loss INR 26.14 bln 
--Four analysts saw InterGlobe Aviation Jul-Sept net loss at INR 10.33 bln 
--InterGlobe Aviation Jul-Sept revenue INR 185.55 bln 
--Analysts saw InterGlobe Aviation Jul-Sept revenue at INR 183.36 bln 
--InterGlobe Aviation Jul-Sept loss INR 26.14 bln vs INR 9.89 bln loss yr ago 
--InterGlobe Aviation Q2 revenue INR 185.55 bln vs INR 169.70 bln yr ago 
--InterGlobe Aviation H1 loss INR 4.53 bln vs profit INR 17.38 bln yr ago 
--InterGlobe Aviation H1 revenue INR 390.52 bln vs INR 365.40 bln yr ago 
--InterGlobe Aviation Q2 consol EBITDAR INR 11.14 bln vs INR 24.34 bln yr ago 
--InterGlobe Aviation Q2 consol EBITDAR margin 6.0% vs 14.3% year ago 
--InterGlobe Aviation Jul-Sept load factor 82.5% vs 82.6% year ago 
--InterGlobe Aviation Jul-Sept yield INR 4.69/km, up 3.2% on year 
--InterGlobe Aviation Q2 available seat kilometer 41.2 bln, up 7.8% on yr 
--InterGlobe: Q3 capacity may rise in high teens in available seat km terms 
--InterGlobe Aviation Jul-Sept passengers 28.80 mln, up 3.6% on year

 

By Arya S. Biju

 

MUMBAI – InterGlobe Aviation Ltd.'s net loss for the September quarter widened on year as its expenses grew at a faster pace than its sales. The rise in expenses was mainly on account of higher expenses related to supplementary rentals and aircraft maintenance, depreciation and amortisation expense, and losses related to currency movement during the quarter. This is the second straight September quarter in which the company has reported a net loss.

 

The operator of low-cost airline IndiGo reported a net loss of INR 26.14 billion for the September quarter, compared to a net loss of INR 9.89 billion in the corresponding quarter a year ago. This was larger than the expectation of INR 10.33 billion net loss, according to an average of estimates from four brokerages. In the trailing quarter, the company had reported a net profit of INR 21.76 billion. 

 

The company's revenue for the reporting quarter grew over 9% on year to INR 185.55 billion, beating analysts' estimate of INR 183.36 billion. However, on a sequential basis, the metric declined over 9%. 

 

The September quarter is seen as the weakest in any given year for airline companies, partly because of the monsoon season. The company's total expenses for the quarter grew over 18% on year to INR 221.14 billion, way higher than the 9% on-year growth in its revenue. This was mainly on account of higher expenses related to supplementary rentals and aircraft maintenance and higher loss related to currency movement during the quarter offsetting the near 10% on-year fall in its biggest expense, aircraft fuel costs, to INR 59.62 billion. 

 

The company's expenses related to supplementary rentals and aircraft maintenance, which accounted for 15% of its total costs, grew a little 19% on year to INR 32.69 billion for the reporting quarter. Its depreciation and amortisation expenses for the quarter rose nearly 27% on year to INR 26.29 billion. Its tax expenses for the quarter jumped 26% on year to INR 1.00 billion.

 

The company's loss related to currency movement during the quarter jumped over 12 times on year to INR 29.05 billion. Excluding the impact of currency movement, the company would have reported a consolidated net profit of INR 1.04 billion, Interglobe Aviation said in a post-earnings press release. Including the impact of currency movement pertaining to dollar-based future obligations, the company had reported a consolidated net profit of INR 25.82 billion.   
  

While InterGlobe Aviation's passenger load factor declined 0.1 percentage points on year to 82.5%, its yield rose 3.2% on year to INR 4.69 per kilometre. The company's capacity rose nearly 8% on year in the September quarter to 41.2 billion. The number of passengers carried by the airline in the reporting quarter rose almost 4% on year to 28.8 million.  

 

The airline's consolidated earnings before interest, taxes, depreciation, amortisation, and rent or restructuring costs declined over 54% on year to INR 11.14 billion. Its EBITDAR margin for the quarter also fell sharply to 6.0% in the reporting quarter from 14.3% in the corresponding quarter a year ago. Excluding the currency movement impact, the company's consolidated EBITDAR rose over 42% on year to INR 38.00 billion and its EBITDAR margin improved to 20.5% from 15.7% in the year-ago quarter. 

 

"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 (of the current financial year) to meet demand and continue driving growth. With that, we have nudged up our capacity guidance for full financial year 2026 to early teens growth," Chief Executive Officer Pieter Elbers said in a press release. The company now expects its capacity in terms of available seat kilometres to grow in high teens on year in the December quarter. 

 

As of Sept. 30, InterGlobe Aviation had a total fleet of 417 aircraft, up from 416 at the end of the trailing quarter and 410 in the year-ago quarter. During the reporting quarter, IndiGo had a technical dispatch reliability of 99.89%, on-time performance of 89.8% at six key metros, and flight cancellation rate of 0.5%. 

 

Its total debt was INR 748.14 billion as on Sept. 30. This included a capitalised operating lease liability of INR 496.51 billion. As of Sept. 30, the company had a total cash balance of INR 535.15 billion, comprising INR 385.17 billion of free cash and INR 149.99 billion of restricted cash.

 

For the six months ended September, the company reported a net loss of INR 4.53 billion compared to a net profit of INR 17.38 billion in the same period a year ago. Its revenue for Apr-Sept rose nearly 7% on year to INR 390.52 billion.

 

InterGlobe Aviation announced its September quarter earnings post-market hours Tuesday. Ahead of the earnings, shares of the company closed over 1% lower at INR 5,637 on the National Stock Exchange.  End

 

Edited by Tanima Banerjee

 

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