IndiGo Q3 Results FY2026: InterGlobe Aviation, the parent company of IndiGo airline, reported a sharp 78 per cent YoY decline in net profit for the third
quarter of FY2026 (Q3 FY26). The company posted a profit of Rs 549.1 crore in the quarter under review. The country's largest airline had reported a profit of Rs 2,448.8 crore in the year-ago period. Despite the fall in profit, the Gurugram headquartered company reported a growth in revenue during the quarter. Its total income rose 6.2 per cent on YoY basis to Rs 23,471.9 crore in December quarter, up from Rs 22,111 crore in the corresponding period of the previous financial year. The firm recorded a total income of Rs 24,540.6 crore, higher than Rs 22,992.8 crore posted in the year-ago period, the airline said in a regulatory filing on Thursday (Jan 22). Its EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent/Restructuring costs) , a financial metric showing core profitability, slipped by 0.9 per cent YoY to Rs 5,862 crore in Q3 FY2026 versus Rs 5,918 crore in Q3 of FY2025. EBITDAR margin contracted by 180 bps to 24.9 per cent in the three-month period under review. IndiGo said that its profit, excluding foreign exchange and exceptional items, stood at Rs 3,130.6 crore in the quarter, down 18.6 per cent on YoY basis. The Q3 profit excluding foreign exchange was at Rs 1,584.1 crore, the company said in a filing. "Our long-term fundamentals remain strong, backed by our expanding fleet, growing domestic and international network. As we look ahead, we remain committed to reliability, operational excellence and enhanced customer experience,” Pieter Elbers, CEO, said in a statement. IndiGo operated at a peak of 2,344 daily flights during the quarter including non-scheduled flights. The airline provided scheduled services to 96 domestic destinations and 44 international destinations.
Why IndiGo's Q3 PAT Declined?
The company said that its profit was impacted by operational disruptions in the month of December, which led to a loss of Rs 577 crore. In addition, the implementation of new labour codes also weighed on earnings, resulting in an additional impact of Rs 969 crore.
In early December, IndiGo cancelled hundreds of flights, leaving thousands of passengers stranded across the country, as the airline was not adequately prepared to implement the new flight duty norms for pilots. This promoted the Directorate General of Civil Aviation (DGCA) to curtail the airline's winter schedule by 10 per cent until February 10, 2026.
Meanwhile, DGCA last week imposed a Rs 22.20 crore penalty on IndiGo for last month's massive flight disruptions and issued stern warnings to airline chief Pieter Elbers as well as two other senior executives. Besides, the regulator directed the airline to furnish Rs 50 crore bank guarantee to ensure compliance with its directives and long-term systemic correction.
IndiGo Q3 Results FY2025 : Highlights
- Capacity increased by 11.2% to 45.4 billion
- Passengers increased by 2.8% to 31.9 million
- Yield decreased by 1.8% to Rs 5.33 and load factor decreased by 2.4 pts to 84.6%
- Revenue from Operations increased by 6.2% to Rs 234,719 million
- Fuel CASK reduced by 2.8% to Rs 1.53
- CASK ex fuel ex fx increased by 2.2% to Rs 2.96
- EBITDAR excluding forex impact of Rs 70,434 million (30% EBITDAR margin), compared to EBITDAR excluding forex impact of Rs 74,560 million (33.7% EBITDAR margin)
- EBITDAR of Rs 60,084 million (25.6% EBITDAR margin), compared to EBITDAR of Rs 60,587 million (27.4% EBITDAR margin)
- Net profit excluding impact of exceptional items and forex amounted to Rs 31,306 million compared to net profit excluding impact of exceptional items and forex of Rs 38,461 million
- Net profit of Rs 5,491 million, compared to net profit of Rs 24,488 million
IndiGo Debt, Fleet
As of 31st December 2025, IndiGo had a total cash balance of Rs 516,069 million comprising Rs 369,445 million of free cash and Rs 146,624 million of restricted cash. The company's capitalized operating lease liability was at Rs 524,784 million. The total debt (including the capitalized operating lease liability) stood at Rs 768,583 million.
As of 31st December 2025, IndiGo had a fleet of 440 aircraft including 27 A320 CEOs (1 damp lease), 180 A320 NEOs, 171 A321 NEOs (3 damp lease), 1 A321XLR, 46 ATRs, 3 A321 freighters, 2 B777 (damp lease), 5 B737 (damp lease) and 5 B787 (damp lease); a net increase of 23 passenger aircraft during the quarter.
IndiGo shares closed 1.47 per cent higher art Rs 4,929 on Thursday.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
