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Informist, Thursday, Jan. 22, 2026

 

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--Analysts saw InterGlobe Aviation Oct-Dec net profit at INR 16.47 bln
--InterGlobe Aviation Oct-Dec revenue INR 234.72 bln
--Analysts saw InterGlobe Aviation Oct-Dec revenue at INR 229.78 bln
--InterGlobe Aviation Q3 net profit includes one-time cost INR 14.67 bln
--InterGlobe Aviation Q3 profit excluding exceptional cost INR 20.8 bln
--InterGlobe Aviation Oct-Dec PAT INR 6.13 bln vs INR 24.42 bln year ago
--InterGlobe Aviation Oct-Dec revenue INR 234.72 bln vs INR 221.11 bln yr ago
--InterGlobe Aviation Apr-Dec PAT INR 1.60 bln vs INR 41.80 bln yr ago
--InterGlobe Aviation Apr-Dec revenue INR 625.24 bln vs INR 586.51 bln yr ago
--InterGlobe Q3 one-time cost INR 8.90 bln on account of new labour code
--InterGlobe Q3 one-time cost INR 5.77 bln due to operational disruptions
--InterGlobe Aviation Oct-Dec consol EBITDAR INR 60.08 bln vs INR 60.59 bln
--InterGlobe Aviation Oct-Dec consol EBITDAR margin 25.6% vs 27.4% yr ago
--InterGlobe Aviation Oct-Dec load factor 84.6% vs 86.9% year ago
--InterGlobe Aviation Oct-Dec yield INR 5.33/km, down 1.8% on year
--InterGlobe expects Q4 capacity up 10% YoY in available seat km terms
--InterGlobe Aviation Oct-Dec capacity 45.40 bln, up 11.2% on year
--InterGlobe Aviation Oct-Dec passengers 31.9 mln, up 2.8% on year
--InterGlobe Aviation Oct-Dec fuel cost INR 69.45 bln vs INR 64.23 bln yr ago
--InterGlobe net added 23 passenger aircraft in Q3, total fleet at 440
--InterGlobe Aviation total debt at INR 768.58 bln as on Dec 31

 

By Anand JC and Sunil Raghu

 

NEW DELHI/AHMEDABAD – The bottom line of InterGlobe Aviation Ltd., which operates budget carrier IndiGo, fell sharply year-on-year and missed analysts' expectations by a wide margin because of operational chaos in the first part of December, which forced the company to cancel hundreds of flights per day, and the newly introduced Labour Codes.  

 

InterGlobe Aviation's net profit for the December quarter was INR 6.13 billion, markedly lower than the INR 24.42 billion profit recorded in the year-ago quarter. This was also much lower than analysts' expectations of INR 16.47 billion.

 

InterGlobe Aviation's profit fell mainly on account of a one-time expense of INR 14.67 billion. This includes INR 8.90 billion towards the impact of the new Labour Codes and INR 5.77 billion incurred by the company in the aftermath of the operational chaos in December.

 

"The Company, in accordance with the applicable regulation, is compensating the affected customers and in addition as a Gesture of Care also extending travel vouchers to the severely impacted customers. The estimated impact of these items, along with other associated costs amounting to Rs. (INR) 5,550 million has been recognised as an exceptional item in the standalone financial results for the quarter and nine months period ended 31 December 2025," InterGlobe Aviation said in its results. 

 

Additionally, the Directorate General of Civil Aviation imposed a penalty of INR 222 million. The company provisioned this amount as an exceptional item, even as it evaluates the order by the civil aviation regulator.  

 

The company said its net profit, excluding the one-time impact, was INR 20.8 billion. Its revenue from operations for the December quarter grew 6.2% on year to INR 234.72 billion. Analysts had pegged the company's top line at INR 229.78 billion. 

 

InterGlobe Aviation's total expenses for the reporting quarter were INR 224.44 billion, up nearly 10% on year. Aircraft fuel expenses, by far its biggest expense in any given quarter, grew 8% on year to INR 69.45 billion. Supplementary rentals and aircraft repair and maintenance costs surged nearly 19% on year to INR 33.92 billion. 

 

Consequently, it reported earnings before interest, tax, depreciation, amortisation, and rentals of INR 60.08 billion, down slightly on year. Excluding the impact of dollar-based future obligations, InterGlobe Aviation's EBITDAR fell nearly 6% on year to INR 70.43 billion.

 

"Our long-term fundamentals remain strong, backed by our expanding fleet, growing domestic and international network. As we look ahead, we remain committed to reliability, operational excellence and enhanced customer experience," InterGlobe Aviation's Chief Executive Officer Pieter Elbers said in a press release.

 

OPERATIONAL PERFORMANCE

While InterGlobe Aviation's capacity improved 11.2% on year to 45.4 billion and its passengers increased 3% on year to 31.9 million, its yield fell 1.8% to INR 5.33. A yield estimates how much revenue an airline earns per unit of distance flown by a paying passenger. The company's load factor fell to 84.6% during the December quarter, down from 86.9% in the year-ago quarter. This metric estimates the percentage of available seats that are actually filled with paying passengers.

 

The average seat kilometres grew to 45.4 billion in the reporting quarter from 40.8 billion in the year-ago quarter. This metric estimates the total passenger-carrying capacity of an airline. Revenue passenger per kilometre increased to 38.4 billion in the reporting quarter from 35.5 billion in the year-ago quarter.

 

InterGlobe Aviation's revenue per available seat kilometre, or RASK, fell to INR 5.20 in the December quarter from INR 5.44 in the year-ago quarter. This calculation excludes finance income of INR 9.37 billion in the reporting quarter and INR 7.61 billion in the year-ago quarter.

 

IndiGo had a total cash balance of INR 516.07 billion, comprising INR 369.45 billion of free cash and INR 146.62 billion of restricted cash. The capitalised operating lease liability was INR 524.78 billion. The total debt was INR 768.58 billion. This included the capitalised operating lease liability. 

 

As of Dec. 31, the company owns a fleet of 440 aircraft compared with 437 in the year-ago quarter. Among this, the company owns 28 owned aircraft, 58 finance lease, 338 operating lease, and 16 damp lease aircraft, as per the investor presentation. The company operated a peak of 2,344 daily flights during the quarter including non-scheduled flights. During the quarter, IndiGo provided scheduled services to 96 domestic destinations and 44 international destinations.   

 

For Apr-Dec, InterGlobe Aviation's net profit stalled to INR 1.60 billion, compared with INR 41.80 billion for same period a year ago. Its revenue, on other hand, soared to INR 625.24 billion, up 6.6% from INR 586.51 billion in December quarter a year ago.

 

InterGlobe Aviation, in a separate filing, announced the re-appointment of Deloitte Touche Tohmatsu India LLP as the internal auditors of the company for three years beginning 2026-27 (Apr-Mar).

The company announced its December quarter earnings after the market hours. Thursday, InterGlobe Aviation's shares ended at INR 4,909 per share on the National Stock Exchange, up over 1%.  End

 

Edited by Akul Nishant Akhoury

 

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