IndiGo logs Rs 238 crore Q1 net loss amid Middle East disruptions

New Delhi: InterGlobe Aviation — the parent company of IndiGo — on Thursday reported a consolidated net loss of Rs 238 crore for the first quarter of FY27, compared with the corresponding period last year.

The airline’s earnings reversed sharply in the June quarter, with InterGlobe Aviation swinging to a consolidated net loss of Rs 238 crore from a net profit of Rs 2,176.3 crore in the corresponding period last year, reflecting a deterioration of over Rs 2,400 crore in its bottom line.

The June quarter loss of Rs 238 crore erased nearly 90 per cent of the previous year’s quarterly profit before pushing the company into the red.

Revenue from operations rose 19.9 per cent year-on-year to Rs 24,584 crore during the April-June quarter, up from Rs 20,496.3 crore a year earlier.

However, the company posted a standalone net loss of Rs 382 crore for the quarter ended June 30.

Total income increased 18.9 per cent to Rs 25,614.1 crore, while other income slipped 1.6 per cent to Rs 1,030 crore.

In addition, total expenses jumped 34 per cent to Rs 25,852 crore from Rs 19,231.9 crore.

Aircraft fuel expenses surged 85.7 per cent year-on-year to Rs 10,832.9 crore, an increase of about Rs 5,000 crore, outpacing the rise in operating revenue.

Operationally, IndiGo’s capacity, measured in available seat kilometres (ASKs), increased 2.9 per cent year-on-year to 43.5 billion ASKs, while the number of passengers carried rose 0.7 per cent to 31.3 million during the quarter.

Commenting on the results, Rahul Bhatia, Managing Director of InterGlobe Aviation, said the first quarter was marked by a volatile operating environment, with elevated fuel costs and network-related constraints in the Middle East weighing on profitability.

“At the same time, demand remained healthy and our revenue performance improved year-on-year, supported by better yields and continued customer preference for IndiGo as we served more than 31 million passengers,” Bhatia said.

He added that while near-term uncertainties persist, the airline remains focused on its long-term priorities of strengthening its network, expanding customer choice and creating sustainable value for all stakeholders.

As of June 30, IndiGo’s total debt, including capitalised operating lease liabilities, stood at Rs 81,531.3 crore, while the capitalised operating lease liability alone was Rs 53,755.6 crore.

The airline’s passenger fleet declined by a net nine aircraft during the quarter.

Shares of IndiGo ended almost 2 per cent lower at Rs 5,023.9 on the BSE on Thursday.

IANS