News ArticleInterGlobe Aviation Posts 24% Revenue Increase with Elevated Costs in Q2 FY27
Q2 FY27 results reveal expansion in income to INR 243,119 million and EBITDAR doubling despite 1% ASK decline and 67% surge in fuel costs
InterGlobe Aviation Limited (IndiGo) announced Q2 FY27 financial results showing a 24% increase in total income to INR 243,119 million and a 19% rise in total expenses to INR 261,884 million. The airline experienced a slight decrease in ASK and RPK but improved RASK by 26%. Earnings before interest, taxes, depreciation, amortization, and rentals (EBITDAR) more than doubled compared to Q2 FY26, reflecting operational shifts amid rising fuel and forex costs.
InterGlobe Aviation Limited
Investor Presentation
InterGlobe Aviation Limited, operating as IndiGo, reported its unaudited financial results for the quarter ended September 30, 2026, showing total income growth of 24% to INR 243,119 million amid a minor decline in available seat kilometers and revenue passenger kilometers, along with increased operating costs.
During Q2 FY27, the airline's available seat kilometers (ASK) decreased by 1.0% to 40.8 billion compared to Q2 FY26, while revenue passenger kilometers (RPK) fell by 3.7% to 32.8 billion. Despite a load factor decline of 2.2 percentage points to 80.3%, revenue per available seat kilometer (RASK) improved by 26.4% to INR 5.76, driven by a 34.3% yield increase to INR 6.30.
Total expenses rose by 18.6% to INR 261,884 million, with aircraft fuel expenses increasing sharply by 67.2% to INR 99,668 million, and foreign exchange losses decreasing by 53.9% to INR 13,332 million. Other costs such as employee expenses and depreciation also increased.
Earnings before interest, taxes, depreciation, amortization, and aircraft rentals (EBITDAR) more than doubled to INR 24,599 million versus INR 11,143 million in Q2 FY26, improving the EBITDAR margin to 10.5%. Adjusted for forex, EBITDAR was INR 36,153 million with a margin of 15.5%.
The company recorded a loss before tax (PBT) of INR 18,765 million and a net loss after tax (PAT) of INR 18,791 million, both showing reduced losses compared to the prior year's quarter. Excluding forex impacts, PAT was a loss of INR 7,237 million.
IndiGo's fleet expanded slightly to 442 aircraft by September 30, 2026, including owned and leased planes, with incremental additions of new international destinations contributing to network growth despite some operational reductions in certain routes.
Highlights
- Total income increased by 24.0% to INR 243,119 million in Q2 FY27 over Q2 FY26.
- Total expenses rose by 18.6%, reaching INR 261,884 million, driven primarily by a 67.2% increase in fuel expenses.
- Available Seat Kilometers (ASK) decreased by 1.0%, and Revenue Passenger Kilometers (RPK) declined by 3.7%.
- RASK improved 26.4% to INR 5.76, while load factor dropped by 2.2 percentage points to 80.3%.
- EBITDAR doubled to INR 24,599 million with a 10.5% margin, and EBITDAR excluding forex was INR 36,153 million (15.5% margin).
- Net loss after tax narrowed to INR 18,791 million from INR 25,821 million in Q2 FY26, excluding forex losses PAT was INR 7,237 million loss.
Key Data Snapshot
What happened
- InterGlobe Aviation released Q2 FY27 unaudited financial results showing 24% revenue growth to INR 243,119 million.
- Total expenses rose 18.6% to INR 261,884 million, primarily due to a 67.2% increase in fuel costs.
- EBITDAR more than doubled compared to the prior year, reaching INR 24,599 million.
- The company experienced a slight decrease in available seat kilometers and revenue passenger kilometers.
- Load factor declined by 2.2 percentage points to 80.3%, while RASK increased by 26.4%.
Financial performance
- Total income was INR 243,119 million, up 24.0% from INR 195,995 million in Q2 FY26.
- Total expenses increased to INR 261,884 million from INR 220,812 million in Q2 FY26.
- Fuel expenses increased to INR 99,668 million, a 67.2% rise over the previous year.
- EBITDAR improved to INR 24,599 million from INR 11,143 million with margin expanding to 10.5%.
- Net loss after tax decreased to INR 18,791 million from INR 25,821 million but remained negative.
- Adjusted for forex, EBITDAR was INR 36,153 million with a margin of 15.5%.
Operational performance
- Available Seat Kilometers reduced to 40.8 billion from 41.2 billion in Q2 FY26.
- Revenue Passenger Kilometers were down to 32.8 billion compared to 34.0 billion.
- Load factor slipped to 80.3% from 82.5%.
- Yield per passenger kilometer increased by 34.3% to INR 6.30.
- Fleet size increased to 442 aircraft including owned and leased planes.
Background and context
- Results are on a consolidated basis and unaudited, approved by the Board of Directors on October 29, 2026.
- Financials reflect operational adjustments including new international destinations and strategic partnerships.
- Fuel and foreign exchange costs have materially impacted earnings.
- Net losses reflect forex effects but performance improved relative to prior year quarter.
Highlights
- Total income increased by 24.0% to INR 243,119 million in Q2 FY27 over Q2 FY26.
- Total expenses rose by 18.6%, reaching INR 261,884 million, driven primarily by a 67.2% increase in fuel expenses.
- Available Seat Kilometers (ASK) decreased by 1.0%, and Revenue Passenger Kilometers (RPK) declined by 3.7%.
- RASK improved 26.4% to INR 5.76, while load factor dropped by 2.2 percentage points to 80.3%.
- EBITDAR doubled to INR 24,599 million with a 10.5% margin, and EBITDAR excluding forex was INR 36,153 million (15.5% margin).
- Net loss after tax narrowed to INR 18,791 million from INR 25,821 million in Q2 FY26, excluding forex losses PAT was INR 7,237 million loss.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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