Flying into the red, IndiGo on Friday (May 29, 2026) reported a loss of ₹2,536.9 crore in the March quarter due to multiple headwinds, including challenging operating conditions and rupee depreciation.

The country's largest airline had a profit of ₹3,067.5 crore in the year-ago period.

For the 2025-26 fiscal, the carrier posted a net loss of ₹2,393.6 crore, but excluding the impact of foreign exchange and exceptional items, it would have been a profit of ₹7,502.5 crore, it said in a release.

Total income in the fourth quarter of the 2025-26 fiscal rose over 3% to ₹23,830.7 crore from ₹23,097.5 crore in the same period a year ago, according to a release.

"For the quarter ended March 2026, IndiGo reported a net loss of INR 25,369 million. Excluding the impact of foreign exchange and exceptional items, the company reported a net profit of Rs 19,206 million," the release said.

Despite continuing external disruptions in 2025-26, IndiGo said its capacity rose 9.5% on an annual basis, and the total income grew 6.4% to ₹89,513.4 crore.

"Exceptionally sharp rupee depreciation, changes in labour laws and a challenging operating environment offset the operational profit and the company reported a net loss of Rs 23,936 million," the airline said.

In 2025-26, the foreign exchange loss was around ₹8,100 crore, and the impact of the December flight disruptions stood at ₹580 crore. Besides, the expenses related to the implementation of the new labour laws were at ₹1,200 crore, as per the airline's financial statements.

IndiGo MD Rahul Bhatia said FY26 was marked by an exceptionally challenging operating environment, which materially impacted its profitability.

"During the year, our capacity grew by 9.5 per cent, and total income increased by over 6 per cent. Excluding the impact of foreign exchange and exceptional items, IndiGo delivered a profit of Rs 75 billion," he said.

In the June quarter, capacity in terms of ASKs (Available Seat Kilometres) is expected to grow around 3-4% as compared to the first quarter of fiscal year 2026.

The airline witnessed multiple challenges in the last financial year, including the massive operational disruptions, especially between December 3 and 5 last year — a period during which 2,507 flights were cancelled, and 1,852 flights were delayed, impacting over 3 lakh passengers at airports across the country.

In March, Pieter Elbers quit as the CEO, and later that month, the airline announced the appointment of William Walsh, a pilot and current chief of the global airlines' grouping IATA, as its next CEO.

The airline's domestic market share stood at 63.3% in March.

Shares of IndiGo fell 3.27% to close at ₹4,418.40 apiece on the BSE.