Indigo drops after Q3 PAT skid 77% YoY to Rs 550 cr

InterGlobe Aviaition (Indigo) declined 2.70% to Rs 4781.10 after the company's consolidated net profit tumbled 77.55% to Rs 549.8 crore despite 6.16% increase in revenue from operations to Rs 23,471.9 crore in Q3 FY26 over Q3 FY25.

Profit for the quarter ended December 2025 was impacted by exceptional items amounting to Rs 1,546.5 crore. These included an estimated provision of Rs 969.3 crore towards the implementation of new labour laws, costs of Rs 555.0 crore related to operational disruptions, and a penalty of Rs 22.2 crore imposed under a DGCA order. In addition, adverse currency movements relating to dollar-denominated future obligations aggregated Rs 10,350 crore.

Net profit excluding impact of exceptional items and forex amounted to Rs 3,130.6 crore in Q3 FY26, up 18.6% compared to net profit excluding impact of exceptional items and forex of Rs 3,846.1 crore in Q3 FY25.

 

For the quarter, the companys passenger ticket revenues were Rs 20,464 crore, an increase of 6.2% and ancillary revenues were Rs 2,446.2 crore, an increase of 13.6% compared to the same period last year.

During the quarter, EBITDAR stood at Rs 6,008.4 crore (25.6% EBITDAR margin), compared to EBITDAR of Rs 6,058.7 crore (27.4% EBITDAR margin) in Q3 FY25. Excluding the impact of forex, EBITDAR stood at Rs 7,043.4 crore (30.0% EBITDAR margin) in Q3 FY26.

Average Seat Kilometers (ASK) increased 45.4 billion during the quarter compared with 40.8 billion in Q3 FY25. The company said that fourth quarter of fiscal year 2026 capacity in terms of ASKs is expected to grow around 10% as compared to the fourth quarter of fiscal year 2025.

Cost of available seat kilometer (CASK) declined 1.9% to Rs 4.73 in Q3 FY26 compared with Rs 4.83 in Q3 FY25.

As of 31st December 2025, the company had a total cash balance of Rs 51,606.9 crore comprising Rs 36,944.5 crore of free cash and Rs 14,662.4 crore of restricted cash.

Pieter Elbers, CEO, said, This quarter, the company faced major operational disruptions that resulted in significant flight cancellations and delays from 3rd to 5th December. We deeply regret the inconvenience faced by our customers and express our heartfelt gratitude for their patience and trust. I also want to thank all IndiGo colleagues who worked tirelessly to stabilize operationsyour dedication and service from the heart enabled us to return swiftly to normal operations. We are grateful to the Government, Aviation Authorities and all other partners in the Indian aviation ecosystem for their support in helping restore normalcy.

Despite these operational disruptions, IndiGo delivered a topline of around Rs 24,500 crore in the December quarter, reflecting a growth of around 7% with a reported profit of around 500 crore and an underlying profit excluding exceptional items and forex of Rs 3,100 crore. We welcomed nearly 32 million customers in this quarter and around 124 million customers in the calendar year 2025. Our long-term fundamentals remain strong, backed by our expanding fleet, growing domestic and international network.

InterGlobe Aviation (IndiGo) is amongst the fastest growing low-cost carriers in the world. It had a fleet of 440 aircraft and provided scheduled services to 96 domestic and 44 international destinations as of 31 st December 2025.

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