Financial Performance Summary (Consolidated, YoY Comparison)

Profitability & Income:

  • Net Loss of INR 2,380 million for Q1 FY27, compared to a Net Profit of INR 21,763 million in Q1 FY26, a decrease of 110.9%.
  • Net Loss excluding foreign exchange impact was INR 56 million, compared to a Net Profit excluding forex of INR 23,473 million in Q1 FY26.
  • Total Income increased by 18.9% YoY to INR 256,141 million from INR 215,426 million.
  • Revenue from Operations increased by 19.9% YoY to INR 245,841 million from INR 204,963 million.
  • Other Income decreased by 1.6% YoY to INR 10,300 million from INR 10,463 million.

Breakdown of Revenue from Operations:

  • Passenger Ticket Revenues: INR 218,786 million, an increase of 23.0% YoY.
  • Ancillary Revenues: INR 24,534 million, an increase of 13.9% YoY.

Cost Structure:

  • Total Expenses increased by 34.4% YoY to INR 258,525 million from INR 192,319 million.
  • Fuel Cost increased by 85.7% YoY to INR 108,329 million from INR 58,326 million.
  • Other Costs excluding Fuel increased by 12.1% YoY to INR 150,196 million from INR 133,993 million.

Key Metrics:

  • EBITDAR: INR 38,325 million (15.6% margin), compared to INR 57,386 million (28.0% margin) in Q1 FY26, a decrease of 33.2%.
  • EBITDAR excluding foreign exchange impact: INR 40,649 million (16.5% margin), compared to INR 59,096 million (28.8% margin) in Q1 FY26, a decrease of 31.2%.
  • PBT (Profit Before Tax): Loss of INR 2,384 million, compared to a profit of INR 23,107 million in Q1 FY26.
  • Foreign Exchange Hedging Loss: Net loss on forex hedging was INR 1,499 million for the quarter, compared to INR 237 million in Q1 FY26.

Operational Performance (YoY Comparison)

Operational Metrics (including non-scheduled operations):

  • Capacity (ASKs): Increased by 2.9% to 43.5 billion from 42.3 billion.
  • Passengers: Increased by 0.7% to 31.3 million from 31.0 million.
  • Load Factor: Decreased by 1.3 percentage points to 83.3% from 84.6%.
  • RPKs: Increased by 1.4% to 36.2 billion from 35.7 billion.
  • Yield: Increased by 21.3% to INR 6.04 from INR 4.98.
  • RASK: Increased by 16.5% to INR 5.66 from INR 4.86.

Cost Metrics:

  • CASK: Increased by 32.6% to INR 5.71 from INR 4.31.
  • Fuel CASK: Increased by 80.4% to INR 2.49.
  • CASK ex fuel: Increased by 10.0% to INR 3.22 from INR 2.93.
  • CASK ex fuel ex forex: Increased by 10.7% to INR 3.20 from INR 2.89.

Balance Sheet & Liquidity (as of June 30, 2026)

Cash Position:

  • Total Cash Balance: INR 528,846 million.
  • Free Cash: INR 390,387 million.
  • Restricted Cash: INR 138,459 million.

Debt Position:

  • Capitalized Operating Lease Liability: INR 537,556 million.
  • Total Debt (including capitalized operating lease liability): INR 815,313 million.

Fleet and Network (as of June 30, 2026)

Fleet:

  • Total Fleet: 432 aircraft.
  • Fleet Composition: 26 A320 CEOs, 174 A320 NEOs, 176 A321 NEOs (including 1 damp lease), 3 A321XLR, 44 ATRs, 3 A321 freighters, and 6 B787 (damp lease).
  • This represents a net decrease of 9 passenger aircraft during the quarter.

Operations:

  • Peak Daily Flights: 2,298 (including non-scheduled flights).
  • Destinations: 97 domestic and 46 international.

Operational Performance (April-June 2026)

  • Technical Dispatch Reliability: 99.9%.
  • On-time Performance at 10 major airports: 86.9%.
  • Flight Cancellation Rate: 0.3%.

Management Commentary & Outlook

Mr. Rahul Bhatia, Managing Director, cited a "volatile operating environment" with "elevated fuel costs and network-related constraints in the middle east" as key factors impacting profitability. He noted that demand remained healthy, supported by improved yields.

The company stated it is focused on "managing capacity prudently, maintaining cost discipline, and responding to market conditions with agility."

Future Capacity Guidance:

  • For Q2 FY27, capacity (ASKs) is expected to remain "broadly flat" compared to Q2 FY26.
  • This is due to lower demand in a traditionally weaker quarter and operational uncertainty affecting travel between India and West Asia.
  • The company expects aircraft utilization to "progressively increase" beyond this seasonally weaker quarter.

Other Disclosures

Board Meeting: The Board meeting was held on July 23, 2026, commencing at 1300 hours IST and concluding at 1530 hours IST.

Auditor: The Limited Review Report was issued by the statutory auditors, M/s. S.R. Batliboi & Co. LLP, Chartered Accountants.

Award: IndiGo was recognized as the Winner in the 'Emerging Category' at the CII Award for Excellence in Disability Inclusion 2026 (AEDI).

Conference Call: An earnings call was scheduled for July 23, 2026, at 5 pm IST.