InterGlobe Aviation Ltd, the parent of IndiGo airline, on July 23 reported  standalone net loss of Rs 382 crore for the quarter ended June 30, 2026. It reported net profit of Rs 2,161 crore in the year-ago period.

Airlines such as IndiGo, which do not hedge fuel, have been grappling with soaring jet fuel prices as the Iran war pushed crude to above $100 per barrel in the quarter, eating into margins.

The airline's revenue from operations rose 20% to Rs 24,584 crore in Q1FY27 as compared to Rs 20,496 crore in Q1FY26. However, expenses jumped at a faster pace of 35.1%. They were led by a nearly 86% surge in aircraft fuel expenses to Rs 10,830 crore.

"A combination of fuel price escalation, adverse foreign exchange movement and the Middle East conflict impacted profitability during the quarter," said IndiGo in a stock exchange filing.

and our revenue performance improved year-on-year, supported by improved yields and continued customer preference for IndiGo as we proudly served more than 31 million passengers.

"We remain focused on managing capacity prudently, maintaining cost discipline, and responding to market conditions with agility. However, the pressure of fuel costs and rupee depreciation resulted in a loss of around Rs 200 crore for the quarter. 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.”

On July 23, IndiGo shares on BSE closed 1.7% lower at Rs 5,030 apiece.

"Capacity increased by 2.9% to 43.5 billion ASKs. Passengers increased by 0.7% to 31.3 million. Yield increased by 21.3% to Rs 6.04 and load factor decreased by 1.3 pts to 83.3%," said the airline about Q1 performance.

As of June 30, IndiGo said it had a total cash balance of Rs 52,885 crore comprising Rs 39,039 crore of free cash
and Rs 13,846 crore of restricted cash.