Will Air India crash aid IndiGo Q1 results? Check date, time, expectations

IndiGo Q1 results: Q1FY26 was marked by volatile crude oil prices and disruption in air traffic due to India-Pak, and Iran-Israel war. Here is how analysts expect IndiGo to fare in Q1

IndiGo Q1 preview: InterGlobe Aviation-owned IndiGo is set to announce its June quarter results for the financial year 2025-26 (Q1FY26) on Wednesday, July 30, 2025.

 

While analysts see the airline maintaining its market share in the quarter, which is the biggest in the industry, they expect the company’s net profit to drop on a high base.

 

IndiGo Q1 results 2025 date, time:

In a stock exchange filing, the low-cost airline said, a meeting of the Board of Directors is scheduled to be held on Wednesday, July 30, 2025, inter-alia, to consider and approve the unaudited (standalone & consolidated) financial results of the company for the quarter ended June 30, 2025.  Check List of Q1 results today 

IndiGo Q1 results expectations: Brokerages' views

 

ICICI Securities

The brokerage expects heightened risks, including volatile crude oil prices, and escalation of geopolitical tensions between India-Pakistan and Iran-Israel, to affect passenger traffic for IndiGo in Q1FY26.

 

Factoring in the effects of closure of airspace, along with a likely shift in air passenger preference from Air India to the airline due to the fatal Ahmedabad plane crash, the brokerage assumes IndiGo’s total passenger count of 30.89 million for Q1FY26, up 11.1 per cent year-on-year (Y-o-Y) from 27.8 million in Q1FY25. However, this is 3.2 per cent lower on a quarter-on-quarter (Q-o-Q) basis from 31.9 million passengers carried in Q4FY25.

 

Assuming average-seat-kilometer (ASK) of 41.75 billion for Q1FY26E and a RASK (revenue per available seat kilometer) of ₹4.84, ICICI Securities expects IndiGo’s reported net profit to stand at ₹1,750.4 crore, lower by 35.9 per cent Y-o-Y and 42.9 per cent Q-o-Q.

 

Excluding the forex loss (due to rupee depreciation) of ₹200 crore, IndiGo's net profit could come at ₹1,950.4 crore.

 

Kotak Institutional Equities

Analysts at the brokerage expect IndiGo's net profit to come at ₹2,172.6 crore, down by 20.4 per cent Y-o-Y from ₹2,728.8 crore and 29.2 per cent Q-o-Q from ₹3,067.5 crore.

 

This is on the back of a 15.3 per cent Y-o-Y and 22.7 per cent Q-o-Q decline in earnings before interest and tax (Ebit). Ebit is seen at ₹2,780 crore.

 

Ebitda, meanwhile, is anticipated to be flat Y-o-Y, but slip 14 per cent Q-o-Q, at ₹5,243.8 crore.

 

"We expect a 15 per cent Y-o-Y rise in ASK and 13 per cent Y-o-Y in RPK, reflecting the impact of a 200bps lower Y-o-Y passenger load factor (PLF) at 85 per cent. We build in flat Y-o-Y yield with 50bps negative impact of mix (international growing at 2X the pace of domestic volumes)," the brokerage said.

 

KIE added: We expect RASK less CASK (excludes other income and forex) at ₹0.34 per ASK, against ₹0.59 per ASK in Q1FY25. The same reflects the effect of benching up of compensation in Y-o-Y base entirely.

 

"The weakness in load factors and yield linked to events of May and June take out the benefit of lower crude prices," it said.

 

Motilal Oswal Financial Services

Motilal Oswal Financial Services expects IndiGo’s revenue to come at ₹21,350 crore, clocking a growth of 9.1 per cent Y-o-Y from ₹19,570 crore.

 

Further, it assumes EBITDAR at ₹6,140 crore, higher from ₹5,770 crore Y-o-Y, and EBITDAR margin at 28.8 per cent vs 29.5 per cent last year.

 

Similarly, Ebitda is seen at ₹5,270 crore and Ebitda margin at 24.7 per cent in Q1FY26.

 

Overall, IndiGo's net profit is seen at ₹2,380 crore, logging a decline of 12.5 per cent Y-o-Y.

 

"We expect ASK at 41.7 billion (up 15 per cent Y-o-Y), PLF at 85.5 per cent (down from 86.8 per cent in Q1FY25), and RPK of 35.6 billion (up 13 per cent Y-o-Y). According to our database, IndiGo’s average fare was flat Q-o-Q at ₹5,943 on one-month forward bookings in Q1FY26, while the same was down 6 per cent Q-o-Q at ₹6,038 on 15-day forward bookings," it noted.

 

Among key minotorables, Motilal Oswal said the airline's outlook on P&W engine-fitted aircraft (being grounded in CY25) and the management's commentary on impending competition would be keenly monitored.

 

Emkay Global Financial Services

Emkay analysts project IndiGo's Q1FY26 sales to rise 6.7 per cent Y-o-Y to ₹20,878.8 crore, Ebitda to grow 9 per cent Y-o-Y to ₹5,673.4 crore, but net profit to fall 14.8 per cent Y-o-Y to ₹2,322.4 crore.