IndiGo flies into red on forex headwinds; posts Rs 2,582 crore net loss in Q2

New Delhi: The country's largest airline IndiGo on Tuesday reported a loss of Rs 2,582.10 crore in the September quarter as higher forex losses and expenses impacted the bottom line, and it expects to induct its first long range Airbus A321 XLR aircraft in December.

The airline, which had a loss of Rs 986.7 crore in the year-ago period, said hedging actions and more revenues in foreign currencies from international operations will help cushion the currency movements.

It had a profit of Rs 2,176.30 crore in the June quarter.

Expanding its international network, IndiGo will be bringing in more planes on damp leases, and currently, the number of aircraft on ground (AOG) is in the 40s, with Chief Financial Officer Gaurav M Negi, in an analysts call, saying the number is expected to remain range-bound till the end of the year.

"We have done very well on the operational performance," IndiGo CEO Pieter Elbers said during a virtual media briefing soon after announcement of the financial results.

According to a regulatory filing, InterGlobe Aviation, the parent of IndiGo, raked in a total income of Rs 19,599.5 crore in the second quarter of the current financial year, higher than Rs 17,759 crore recorded in the same period a year ago.

In a release, the airline said that, including the impact of currency movement pertaining to dollar-based future obligations, the net loss for the September quarter aggregated to Rs 2,582.10 crore.

"Excluding the impact of currency movement, IndiGo reported a net profit of Rs 1,039 million as compared to a net loss of Rs 7,539 million during the same period last year," it added.

The net of supplementary rentals and aircraft repair and maintenance jumped 18.9 per cent to Rs 3,263 crore while the foreign exchange loss stood at Rs 2,892.1 crore in the latest September quarter.

In the year-ago period, foreign exchange loss was at Rs 240.6 crore.

Total expenses in the September quarter climbed 18.3 per cent to Rs 22,081.2 crore.

"Total income for the quarter ended September 2025 was Rs 195,995 million, an increase of 10.4 per cent over the same period last year. For the quarter, our passenger ticket revenues were INR 159,667 million, an increase of 11.2 per cent and ancillary revenues were INR 21,411 million, an increase of 14.2 per cent compared to the same period last year," the release said.

The airline's yield or rupee earned per kilometre rose 3.2 per cent to Rs 4.69 in the latest September quarter from Rs 4.55 in the year-ago period.

Elbers said the airline's optimised capacity deployment has enabled us to deliver a 10 per cent growth in topline revenue, excluding the impact of currency movements, an operational profit of Rs 104 crore compared to an operational loss last year.

"The year began with significant external challenges across the industry, but we saw stabilisation in July and a strong recovery through August and September. Looking ahead, we have scaled up our operational plans for the second half to meet demand and continue driving growth.

"With that, we have nudged up our capacity guidance for the full financial year 2026 to early teens growth," he said in the release.

According to him, the long range A321 XLR plane -- which will have 183 economy class seats and 12 stretch seats -- is expected to come in the second half of December.

The airline, which had a 64.3 per cent domestic market share in September, is expanding its international network with leased Boeing 787 Dreamliners and the long range A321 XLRs will allow it to fly to new destinations.

Shares of the airline fell over 1 per cent to close at Rs 5,635 apiece on the BSE.