IndiGo Q1 FY27 net loss at Rs 238 crore despite 20% rise in revenue; flags West Asia disruptions

InterGlobe Aviation Ltd, the parent of IndiGo, on Thursday reported a consolidated net loss of Rs 238 crore for the June quarter (Q1 FY27), compared with a net profit of Rs 2,176.3 crore in the corresponding period last year, as elevated fuel costs and network-related constraints in West Asia impacted profitability.

The airline's revenue from operations, however, rose 19.9 per cent year-on-year (YoY) to Rs 24,584.1 crore in Q1 FY27 from Rs 21,542.6 crore in the year-ago period.

For the quarter, IndiGo's passenger ticket revenue increased 23 per cent YoY to Rs 21,878.6 crore, while ancillary revenue rose 13.9 per cent to Rs 2,453.4 crore.

Commenting on the results, IndiGo Managing Director Rahul Bhatia said the first quarter was shaped by a volatile operating environment, with elevated fuel costs and network-related constraints in West Asia, weighing on profitability. "At the same time, demand remained healthy and our revenue performance improved year-on-year, supported by improved yields and continued customer preference for IndiGo," he added.

"While near-term uncertainties remain, we continue to stay committed to our long-term priorities of strengthening the network, enhancing customer choice, and creating sustainable value for all stakeholders," Bhatia also said.

Total expenses for the quarter ended June 2026 climbed 34.4 per cent YoY to Rs 25,852.5 crore.

As of June 30, 2026, IndiGo's total cash balance stood at Rs 52,884.6 crore, comprising Rs 39,038.7 crore of free cash and Rs 13,845.9 crore of restricted cash.

On future capacity growth, the airline said, "In line with lower demand during a traditionally weaker quarter, coupled with the operational uncertainty affecting travel between India and West Asia, capacity in the second quarter of fiscal year 2027, measured in terms of ASKs (available seat kilometres), is expected to remain broadly flat compared to the second quarter of fiscal year 2026, reflecting lower aircraft utilisation. As we move beyond this seasonally weaker quarter, we expect aircraft utilisation to progressively increase."

The earnings were announced shortly after market hours on Thursday. Earlier in the day, IndiGo shares settled 1.89 per cent lower at Rs 5,023.90 on BSE.