IndiGo Names Kiran Thadimarri New CFO As Airline Reports Rs 238 Crore Quarterly Loss

InterGlobe Aviation Ltd., the parent company of IndiGo, has appointed Kiran Thadimarri as its new chief financial officer (CFO), with effect from July 28, following a leadership transition approved by the company’s board.

According to an exchange filing on Monday, Thadimarri, who is currently serving as deputy CFO, will take over from Gaurav Negi. Negi has been re-designated as advisor to the managing director from the close of business on July 27.

Negi’s transition took effect on Monday, while Thadimarri assumed the role of CFO from Tuesday, the filing said.

What we know about Kiran Thadimarri?

The company said Thadimarri is a chartered accountant with more than 24 years of experience across controllership, financial planning and analysis, treasury, capital raising, taxation, audit

and investor relations.

Before joining IndiGo, he held leadership positions at InterGlobe Enterprises, Udaan and Genworks Health. He also spent more than 13 years at General Electric.

The company did not give any reason for the leadership change beyond Negi’s re-designation and Thadimarri’s appointment as CFO.

Appointment comes after quarterly results

The management reshuffle comes after InterGlobe Aviation reported a consolidated net loss of Rs 238 crore for the first quarter of fiscal 2026-27, compared with a net profit of Rs 20,496 crore in the corresponding period last year, according to a separate exchange filing.

Despite reporting a loss, the airline’s revenue from operations increased 20% year-on-year to Rs 24,584 crore. During the quarter, IndiGo’s fleet reduced by nine aircraft, taking the total fleet size to 432 aircraft.

Ebitda (earnings before interest, taxes, depreciation and amortisation) declined 37% to Rs 3,267 crore. The Ebitda margin also narrowed to 13.3% from 25.5% a year earlier, marking a contraction of 1,220 basis points.

InterGlobe Aviation shares ended the day 1.83% lower at Rs 5,023.50 on the NSE, underperforming the Nifty 50, which fell 0.53%.