Key Takeaways
- IndiGo reports Rs 2,582 crore Q2 loss despite 10% revenue growth
- Currency movements significantly impacted bottom line performance
- Excluding forex impact, airline would have posted Rs 103.9 crore profit
- Domestic market share remains strong at 64.3% in September
InterGlobe Aviation, parent company of India’s largest airline IndiGo, reported a substantial net loss of Rs 2,582 crore for the September quarter, primarily driven by unfavorable currency movements. This represents a significant increase from the Rs 986 crore loss recorded in the same period last year.
Financial Performance Details
The airline demonstrated strong operational performance with total income reaching Rs 19,599 crore in Q2 FY2024, marking a healthy increase from Rs 17,759 crore in the corresponding quarter last year. The company clarified that including the impact of currency movement on dollar-based future obligations resulted in the net loss aggregating to Rs 2,582 crore.
Excluding currency impacts, IndiGo actually reported a net profit of Rs 103.9 crore, a remarkable turnaround from the net loss of Rs 753.9 crore during the same period last year.
CEO’s Strategic Outlook
IndiGo CEO Pieter Elbers highlighted that optimized capacity deployment enabled the airline to deliver 10% growth in topline revenue excluding currency impacts. The airline achieved an operational profit of Rs 104 crore compared to an operational loss in the previous 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,” Elbers stated.
The airline maintained its dominant position in the domestic market with a 64.3% market share in September, underscoring its strong competitive position despite financial headwinds.
