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Informist, Friday, May 29, 2026

 

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--InterGlobe Aviation Jan-Mar net loss INR 26.62 bln
--Analysts saw InterGlobe Aviation Jan-Mar net loss at INR 19.86 bln
--InterGlobe Aviation Jan-Mar revenue INR 224.38 bln
--Analysts saw InterGlobe Aviation Jan-Mar revenue at INR 225.69 bln
--InterGlobe Jan-Mar net loss INR 26.62 bln vs net profit INR 30.73 bln yr ago
--InterGlobe Jan-Mar revenue INR 224.38 bln vs INR 221.52 bln yr ago
--InterGlobe Q4 net profit includes one-time cost INR 2.50 bln
--InterGlobe Q4 profit excluding exceptional items INR 24.12 bln
--InterGlobe Jan-Mar aircraft fuel cost INR 66.50 bln vs INR 67.53 bln yr ago
--InterGlobe to partially pre-pay upto $450 mln as lease obligation to arm
--InterGlobe FY26 net loss INR 25.03 bln vs PAT INR 72.53 bln year ago
--InterGlobe FY26 revenue INR 849.62 bln vs INR 808.03 bln year ago
--InterGlobe Jan-Mar total expenses INR 260.72 bln vs INR 199.30 bln yr ago
--InterGlobe Jan-Mar deferred tax expenses INR 2.52 bln vs INR 4 mln yr ago
--InterGlobe Jan-Mar consol EBITDAR INR 64.35 bln vs INR 68.62 bln year ago
--InterGlobe Q4 consol EBITDAR with forex impact INR 22.3 bln vs INR 69.5 bln
--InterGlobe Q4 consol EBITDAR margin with forex impact 9.9% vs 31.4% yr ago
--InterGlobe Q4 consol EBITDAR margin ex forex impact 28.7% vs 31.0% yr ago
--InterGlobe Jan-Mar forex loss INR 48.82 bln vs gain INR 1.38 bln yr ago
--InterGlobe sees Q1 capacity growth 3-4% YoY in available seat km terms
--InterGlobe Jan-Mar consol capacity 43.60 bln, up 3.4% on year
--InterGlobe Jan-Mar consol passengers 31.6 mln, down 1.1% on year
--InterGlobe Jan-Mar consol yield INR 5.20/km, down 2.2% on year 
--InterGlobe Jan-Mar load factor 85.8% vs 87.4% year ago
--InterGlobe total debt at INR 777.49 bln on Mar 31 
--InterGlobe net added 1 passenger aircraft in Q4, total fleet at 441 
--InterGlobe made INR 5.77 bln of provisions in FY26 for ops disruptions Dec 
--InterGlobe total cash balance at INR 516.51 bln on Mar 31
--InterGlobe: Operating lease liability at INR 534.61 bln on Mar 31

 

By Sunil Raghu

 

AHMEDABAD – InterGlobe Aviation Ltd., which operates budget carrier IndiGo, expectedly reported a net loss for the March quarter as the airline industry reels under the ramifications of the war in West Asia. The industry as a whole was expected to report poor financial performance for the March quarter as a result of higher foreign exchange losses, increased fuel costs, and reduced passenger volume due to the disruption caused by the war.

 

InterGlobe Aviation's loss for the March quarter was INR 26.62 billion, against a net profit of INR 30.73 billion for the year-ago quarter and worse than the Street's estimate of a net loss of INR 19.86 billion. The company's loss includes an expense of INR 2.5 billion towards the impact of the new labour codes and a foreign exchange loss of nearly INR 49 billion. Excluding the one-time cost and the foreign exchange loss, the company's net profit was INR 19.21 billion.

 

InterGlobe Aviation's revenue from operations for the March quarter grew 1.3% on year to INR 224.38 billion. In the year-ago quarter, its revenue from operations was INR 221.52 billion. Analysts had pegged the company's top line at INR 225.69 billion.

 

InterGlobe Aviation's total expenses for the reporting quarter were INR 260.72 billion, up nearly 31% on year. Aircraft fuel expenses, by far its biggest expense in any given quarter, fell 1.5% on year to INR 66.50 billion. Supplementary rentals and aircraft repair and maintenance costs too fell 6.4% on year to INR 32.09 billion. The company also had deferred tax expenses of INR 2.52 billion for the March quarter, compared to INR 4 million in the year-ago quarter.
 
InterGlobe Aviation's consolidated earnings before interest, tax, depreciation, amortisation, and rentals slumped nearly 68% on year to INR 22.3 billion, from INR 69.5 billion. The company's consolidated EBITDAR, excluding the foreign exchange impact, was INR 64.35 billion, down over 6% from INR 68.62 billion in the year-ago quarter. Its March quarter consolidated EBITDAR margin with foreign exchange impact was 9.9%, versus 31.4% a year ago. The consolidated EBITDAR margin without impact of foreign exchange was 28.7%, versus 31.0% a year ago, the company said.

"We continue to maintain a strong balance sheet with substantial liquidity, demonstrating resilience through prolonged periods of volatility," InterGlobe Aviation Managing Director Rahul Bhatia said in a press release. "While the near term remains volatilie, we remain firmly focused on disciplined execution, cost efficiency, and long-term value creation."

 

 

OPERATIONAL PERFORMANCE

While InterGlobe Aviation's capacity improved 3.4% on year to 43.6 billion during the March quarter, the number of passengers fell 1.1% on year to 31.6 million and its yield fell 2.2% to INR 5.20. Yield estimates the revenue an airline earns per unit of distance flown by a paying passenger. The company's load factor fell to 85.8% during the March quarter, down from 87.4% 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 43.6 billion in the reporting quarter from 42.1 billion in the year-ago quarter. This metric estimates the total passenger-carrying capacity of an airline. Revenue passenger per kilometre increased to 37.4 billion in the reporting quarter from 36.8 billion in the year-ago quarter.

 

InterGlobe Aviation's revenue per available seat kilometre, or RASK, grew marginally to INR 5.30 in the March quarter from INR 5.26 in the year-ago quarter. This calculation is net of finance income of INR 7.37 billion in the reporting quarter and INR 9.51 billion in the year-ago quarter, as per the company's investor presentation.

 

The company had a total cash balance of INR 516.51 billion as of Mar. 31, comprising INR 362.16 billion of free cash and INR 154.34 billion of restricted cash. The capitalised operating lease liability was INR 534.61 billion. Its total debt was INR 777.49 billion. This included the capitalised operating lease liability and a provision of INR 5.77 billion for operational disruptions witnessed in the December quarter.

 

As of Mar. 31, the company owned a fleet of 441 aircraft compared with 440 a quarter ago. Of these, the company owned 36, had 53 on finance lease, 332 on operating lease, and 20 on damp lease, as per the investor presentation. The company operated an average of 2,150 daily flights during the year and provided scheduled services to 97 domestic destinations and 45 international destinations.

 

The company is also to partially pre-pay up to $450 million as lease obligation to InterGlobe Aviation Financial Services IFSC Private Limited, its wholly owned subsidiary, in one or more tranches, for acquisition of aviation assets, thereby enabling ownership of aircraft, aircraft engines, and aircraft parts.

 

For the financial year 2025-26 (Apr-Mar), InterGlobe Aviation logged a net loss of INR 25.03 billion, compared with a net profit of INR 72.53 billion for FY25. Its revenue, on the other hand, rose to INR 849.62 billion, up over 5% from INR 808.03 billion.

 

The company announced its March quarter earnings after market hours Friday. Its stock ended at INR 4,405 per share on the National Stock Exchange, down 3.6%.  End

 

US$1 = INR 95.00

 

Edited by Rajeev Pai

 

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