InterGlobe Aviation (INDIGO) Q3 2025 earnings summary

Executive summary

• Delivered strong Q3 FY25 results with record 31.1 million passengers, up 13% year-over-year, and operated a peak of 2,200 daily flights, driven by robust air travel demand, strategic network expansion, and improved operational performance.

• Total income rose 14.6% year-over-year to INR 229,928 million, with revenue from operations up 13.7%.

• Launched business class product 'IndiGo Stretch' on key metro routes, with positive initial feedback and plans for further rollout.

• Expanded domestic network to 90 destinations and international to 38, with 50 new routes added in Q3; partnerships provided access to 54 additional international destinations.

• Recognized as Airline of the Year by CAPA and received multiple industry awards for operational excellence and sustainability.

Financial highlights

• Revenue from operations rose 13.7% year-over-year to INR 221,107 million; total income at INR 229,928 million.

• Net profit excluding forex impact was INR 38.5 billion, up 26.1% year-over-year; reported net profit including forex was INR 24.5 billion, down 18.3%.

• EBITDAR increased 10.7% to INR 60,587 million; EBITDAR margin at 27.4%.

• Passenger ticket revenue grew 12.3% and ancillary revenue rose 22.3% year-over-year.

• Free cash at INR 289,035 million; total cash balance at INR 437,808 million; total debt including lease liabilities at INR 651,385 million.

Outlook and guidance

• Q4 FY25 capacity (ASKs) expected to increase by 20% year-over-year, with full-year guidance of early double-digit capacity addition reaffirmed.

• Anticipates early single-digit moderation in unit passenger revenue in Q4 due to a high base last year.

• Expects AOG (Aircraft on Ground) to decline to the 40s at the start of next fiscal year, further improving as the year progresses.