IndiGo Loss Narrows to Rs 1,879 Crore as Revenue Rises 26 Percent

InterGlobe Aviation, the parent company of IndiGo, India's largest airline, reported a consolidated net loss of Rs 1,879.1 crore for the quarter ended 30 September 2026. The loss was narrower than the Rs 2,582.1 crore loss the company recorded in the same quarter a year earlier, according to its stock exchange filing. Revenue grew strongly in the quarter, but a sharp rise in fuel costs and continued currency losses kept the airline in the red.

Revenue from operations rose 25.9 percent year on year to Rs 23,363.8 crore, up from Rs 18,555.3 crore a year earlier. Total income grew 24 percent to Rs 24,311.9 crore. The revenue growth came from higher fares rather than more flying. Passenger yield rose 34.3 percent to Rs 6.30, while the airline carried fewer passengers than a year earlier.

Fuel and currency costs

Aircraft fuel expenses climbed 67.2 percent to Rs 9,966.8 crore, from Rs 5,961.8 crore a year earlier. Total expenses rose 18.6 percent to Rs 26,188.4 crore. Foreign exchange losses were Rs 1,333.2 crore, lower than the Rs 2,892.1 crore recorded a year earlier, but still a significant charge against the quarter.

Chief executive Willie Walsh said the airline had cut capacity and managed fares in response to the cost pressure. "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," Walsh said in the company release reported by Upstox.

Passengers, fleet and outlook

IndiGo carried 27.5 million passengers in the quarter, down 4.7 percent from 28.8 million a year earlier. Capacity measured in available seat kilometres fell 1 percent to 40.8 billion. The passenger load factor fell to 80.3 percent, from 82.5 percent a year earlier, which means a smaller share of the seats the airline offered were filled.

As of 30 September 2026, IndiGo operated a fleet of 442 aircraft. The company expects capacity in the December quarter to grow by low single digits compared with the same quarter a year earlier. IndiGo shares closed 0.3 percent lower ahead of the results at Rs 4,675 on the NSE.

The September quarter is normally a soft period for Indian airlines, between the summer peak and the festival and winter season. This year the quarter also brought exceptionally high fuel costs, which the airline said its fare increases and capacity cuts only partly offset.