IndiGo narrows losses in Q2 loss despite fuel costs
IndiGo reduced its quarterly losses as revenue climbed 25.9%, although sharply higher fuel expenses and foreign exchange losses continued to pressure profitability.
Mumbai InterGlobe Aviation, the operator of IndiGo, India’s largest budget airline by market share, reported a narrower consolidated net loss for the second quarter ended September 30, 2026, as strong passenger traffic and improving yields supported revenue growth despite rising fuel expenses. Consolidated revenue from operations increased 25.9% year-on-year to Rs 23,363.8 crore from Rs 18,555.3 crore in the corresponding quarter last fiscal. Total income reached Rs 24,311.9 crore, including Rs 948.1 crore in other income. The airline’s consolidated net loss after tax narrowed to Rs 1,879.1 crore from Rs 2,582.1 crore a year earlier. Standalone net loss stood at Rs 2,055.2 crore, compared with Rs 2,614.1 crore in the year-ago quarter. However, higher operating costs continued to weigh on profitability. Aviation turbine fuel expenses surged 67.2% to Rs 9,966.8 crore from Rs 5,961.8 crore in the corresponding period last year. The increase reflected pressure from elevated crude oil prices amid geopolitical tensions in West Asia. Aircraft maintenance and supplementary rental expenses rose to Rs 3,580.9 crore, while airport fees and handling charges increased to Rs 1,658.2 crore. Employee expenses climbed to Rs 2,273.7 crore. The airline also reported a foreign exchange loss of Rs 1,333.2 crore, depreciation and amortisation charges of Rs 3,074.2 crore, and finance costs of Rs 1,657.8 crore. Meanwhile, consolidated assets increased to Rs 1,48,168.6 crore as of September 30, 2026, from Rs 1,36,002.1 crore at the end of March. Right-of-use assets rose to Rs 59,956.5 crore, reflecting fleet additions.
