Interim report
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InterGlobe Aviation Limited Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in Corporate Office: Emaar Capital Tower-II, Sector-26, Sikanderpur Ghosi, MG Road, Gurugram-122002, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768 J anuary 22, 2026 IGAL/SECT/1-26/10 To National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra - (E), Mumbai - 400 051 Symbol: INDIGO To BSE Limited Phiroze Jeejeebhoy Tower Dalal Street Mumbai - 400 001 Scrip Code: 539448 Subj ect: Compliances under Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 De ar Sir/ Madam, The Board of Directors of the Company, in its meeting held on Thursday, January 22, 2026, inter alia, considered and approved the following: 1. Unaudit ed standalone and consolidated financial results (“Financial Results”) for the quarter and nine months ended December 31, 2025. In this regard, please find enclosed: i. Unaudi ted Financial Results along with the Limited Review Reports thereon issued by the Statutory Auditors, M/s S.R. Batliboi & Co. LLP, Chartered Accountants. ii. Copi es of investor presentation and press release. 2. Re-appoint ment of M/s Deloitte Touche Toh matsu India LLP, as the Internal Auditors of the Company for a term of three consecutive financial years commencing from FY27 till FY29. The detai ls as required in this regard are enclosed. The Board meeting commenced at 1330 hours (IST) and concluded at 1545 hours (IST). This disclosure is also being made available on the Company’s websit e at www.goindigo.in . This is for your information and record. Thanking you, For InterGlobe Aviation Limited Neerja Sharma Company Secretary & Chief Compliance Officer Encl: a/a
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InterGlobe Aviation Limited Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in Corporate Office: Emaar Capital Tower-II, Sector-26, Sikanderpur Ghosi, MG Road, Gurugram-122002, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768 Annexure Disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 read with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024: S. No. Particulars Details 1. Reason for change viz. appointment, re- appointment, resignation, removal, death or otherwise Re-appointment of M/s Deloitte Touche Tohmatsu India LLP , as the Internal Auditors of the Company 2. Date of appointment/re- appointment/cessation (as applicable) & term of appointment/re-appointment January 22, 2026 Re-appointed for three consecutive financial years commencing from FY27 till FY29 3. Brief profile (in case of appointment) Deloitte Touche Tohmatsu India LLP (LLP Identification No. AAE -8458) (“the firm”) is a limited liability partnership incorporated in India and is a member firm of Deloitte Touche Tohmatsu Limited (DTTL), a global network of member firms. The firm has over a decade of experience in delivering internal audit services under Audit & Assurance practice. The firm has undertaken internal audit engagements across various sectors including manufacturing, metals and mining, energy, FMCG, consumer, infrastructure, financial services and the public sector , applying a robust, risk -based and technology-enabled audit methodology. Deloitte also has experience in the aviation sector, providing internal audit services to airlines globally and has partners with extensive experience in the airline sector, particularly in providing internal audit services. 4. Disclosure of relationships between directors (in case of appointment of a director). Not Applicable
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Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Resultsof the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, as amendedReview Report toThe Board of DirectorsInterGlobe Aviation Limited1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of InterGlobe AviationLimited (the “Holding Company”), its subsidiaries and its Controlled Trust, (the Holding Company, its subsidiariesand its Controlled Trust together referred to as “the Group”), for the quarter ended December 31, 2025 and year to datefrom April 01, 2025 to December 31, 2025 (the “Statement”) attached herewith, being submitted by the HoldingCompany pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015, as amended (the “Listing Regulations”).2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with therecognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim FinancialReporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issuedthereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of theListing Regulations. The Statement has been approved by the Holding Company’s Board of Directors. Ourresponsibility is to express a conclusion on the Statement based on our review.3. We conducted our review of the Statement in accordance with theStandard on Review Engagements (SRE) 2410,“Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Instituteof Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderateassurance as to whether the Statement is free of material misstatement. A review of interim financial informationconsists of making inquiries, primarily of persons responsible for financial and accounting matters, and applyinganalytical and other review procedures. A review is substantially less in scope than an audit conducted in accordancewith Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware ofall significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extentapplicable.4. The Statement includes the results of the following entities: Agile Airport Services Private Limited, InterGlobeAviation Financial Services IFSC Private Limited, InterGlobe Aviation Ventures LLP and IndiGo Ventures Fund-I.5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to ourattention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition andmeasurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accountingprinciples generally accepted in India has not disclosed the information required to be disclosed in terms of the ListingRegulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.For S.R. Batliboi & Co. LLPChartered AccountantsICAI Firm registration number: 301003E/E300005per Sanjay VijPartnerMembership No.: 095169 UDIN:26095169FABBTJ2952Place of Signature: Gurugram Date: January 22, 2026
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Particulars Year ended31 December202530 September202531 December202431 December202531 December202431 March2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Incomea. Revenue from operations 234,719 185,553 221,107 625,235 586,510 808,029 b. Other income 10,687 10,442 8,821 31,592 23,497 32,953 Total income 245,406 195,995 229,928 656,827 610,007 840,982 2. Expensesa. Aircraft fuel expenses 69,445 59,618 64,226 187,389 194,443 261,973 b. Aircraft and engine rentals 5,093 3,200 7,585 13,218 21,462 30,103 c. Supplementary rentals and aircraft repair and maintenance (net) 33,853 32,630 28,580 97,188 82,059 112,185 d. Airport fees and charges 17,180 15,155 15,187 48,604 41,896 57,531 e. Purchase of stock-in-trade (In-flight) 1,358 1,144 1,106 3,521 2,756 3,834 f. Changes in inventories of stock-in-trade 3 (17) (16) 10 2 (2) g. Employee benefits expense 21,027 20,448 19,187 61,974 55,253 74,725 h. Finance costs 15,452 14,649 13,081 44,062 37,058 50,800 i. Depreciation and amortisation expense 27,822 26,405 22,255 79,887 61,888 86,802 j. Foreign exchange loss (net) 11,134 28,921 14,564 41,528 17,545 16,179 k. Other expenses 21,952 18,659 18,902 60,069 51,405 70,918 Total expenses 224,319 220,812 204,657 637,450 565,767 765,048 3. 21,087 (24,817) 25,271 19,377 44,240 75,934 4. 15,465 - - 15,465 - - 5. 5,622 (24,817) 25,271 3,912 44,240 75,934 6.a. Current tax charge / (credit) (1,539) 1,004 783 809 2,331 3,346 b. Deferred tax charge 1,670 - - 1,670 - 4 131 1,004 783 2,479 2,331 3,350 7.5,491 (25,821) 24,488 1,433 41,909 72,584 8.a. Items that will not be reclassified to profit or loss- Remeasurements of defined benefit plans (net of tax)(2) 12 (19) (88) (29) (89)b.Items that will be reclassified to profit or loss- Net gain / (loss) due to foreign currency translation differences (net of tax) (281) 145 9 (102) 9(46) - Debt instruments through other comprehensive income (net of tax) 2 (7) 23 45 34 40 (281) 150 13 (145) 14 (95) 9.5,210 (25,671) 24,501 1,288 41,923 72,489 10. Profit / (loss) for the period / year attributable to - Owners of the Company 5,498 (25,817) 24,488 1,444 41,909 72,584 - Non-controlling interest (7) (4) - (11) - - 11.- Owners of the Company (281) 150 13 (145) 14 (95) - Non-controlling interest - - - - - - 12.- Owners of the Company 5,217 (25,667) 24,501 1,299 41,923 72,489 - Non-controlling interest (7) (4) - (11) - - 13.3,866 3,866 3,864 3,866 3,864 3,864 14. 89,818 15.a. Basic (Rs.) 14.22 (66.79) 63.38 3.74 108.52 187.93 b. Diluted (Rs.) 14.20 (66.79) 63.30 3.73 108.38 187.67 Quarter endedS. No.Nine months period ended(Rupees in millions, except for share data and if otherwise stated)InterGlobe Aviation LimitedCIN: L62100DL2004PLC129768Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, IndiaWebsite: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200Statement of unaudited consolidated financial results for the quarter and nine months period ended 31 December 2025 Profit / (loss) for the period / year (5-6)Profit / (loss) before exceptional items and tax for the period / year (1-2)Exceptional items (Refer to Note 2)Profit / (loss) before tax for the period / year (3-4)Tax expenseTotal tax expenseReserves excluding revaluation reserves as per balance sheetEarnings Per Share (of Rs. 10 each) (Refer to Note 9):See accompanying notes to the unaudited consolidated financial resultsOther comprehensive incomeOther comprehensive income / (loss) for the period / year, net of taxTotal comprehensive income / (loss) for the period / year (7+8)Paid-up equity share capital (face value of Rs. 10 each, fully paid)Other comprehensive income / (loss) for the period / year attributable toTotal comprehensive income / (loss) for the period / year attributable to
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Notes:1.2. 3.4. InterGlobe Aviation LimitedCIN: L62100DL2004PLC129768Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, IndiaWebsite: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 The income tax authority has assessed the return of income of the Company up to Assessment Year (“AY”) 2022-23 and has revised the taxable income for certain years on accountofdisallowance of certain expenses and in respect of the tax treatment of certain incentives received from the manufacturer in respect of acquisition of aircraft and engines. The Company has notyet received assessment order for subsequent years.The Group has received favourable orders against such disallowances / additions from the Special Bench of Income Tax Appellate Tribunal (“ITAT”) for AY 2012-13 and Divisional Bench ofITAT for certain years till AY 2015-16. However, the income tax authority’s appeals against these orders are pending before the Hon’ble High Court of Delhi.The Group believes, based on legal advice from counsels, that the view taken by ITAT Special Bench and Divisional Bench is sustainable in higher courts and accordingly, no provision isrequired to be recorded in the books of account.The tax exposure (excluding interest and penalty) for matters disallowed by income tax authorities up to AY 2022-23 i.e. the last year assessed, amounts to Rs. 24,185 million in case theincentives are held to be taxable. The above amount is net of Rs. 5,332 million, which represents minimum alternate tax recoverable written off in the earlier years. Further, the above taxexposure will also impact carried forward losses having a tax effect of Rs. 18,227 million. The above unaudited consolidated financial results for the quarter and nine months period ended 31 December 2025 of InterGlobe Aviation Limited (the "Company") were reviewed bytheAudit Committee and subsequently approved by the Board of Directors at their respective meetings held on 22 January 2026. The results have been subjected to a limited review by theStatutory Auditors of the Company and its subsidiaries (including controlled trust) (namely 'Agile Airport Services Private Limited', 'InterGlobe Aviation Financial Services IFSC PrivateLimited', 'InterGlobe Aviation Ventures LLP' and 'IndiGo Ventures Fund-I') [the Company and its subsidiaries (including controlled trust) together referred to as "the Group"] pursuant toRegulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time ("SEBI LODRRegulations"), who have issued an unmodified conclusion on the same.b. Impact of operational disruptionsDuring the first week of December 2025, the Company experienced unforeseen operational challenges that resulted in significant flight cancellations and delays between 3 December 2025 and5 December 2025. These disruptions led to a material reduction in passenger revenue during the affected period. To restore operations, the Company undertook measures to reboot its network& systems and reposition crews. These corrective actions subsequently enabled the Company to operate an increased number of flights with improved stability.The Company, in accordance with the applicable regulation, is compensating the affected customers and in addition as a Gesture of Care also extending travel vouchers to the severelyimpacted customers. The estimated impact of these items, along with other associated costs amounting to Rs. 5,550 million has been recognised as an exceptional item in the consolidatedfinancial results for the quarter and nine months period ended 31 December 2025. Revenue from operations under Ind AS 115, net of the exceptional item, for the quarter and nine monthsperiod ended 31 December 2025 would have been Rs. 229,372 million and Rs. 619,888 million, respectively.Further, on 17 January 2026, the Company received an order from the Directorate General of Civil Aviation (DGCA) imposing a penalty of Rs. 222 million in connection with the operationaldisruptions. While the order is being evaluated by the Company, the amount has been provisioned for as an exceptional item in the consolidated financial results for the quarter and ninemonths period ended 31 December 2025.The DGCA has also directed the Company to furnish a bank guarantee of Rs. 500 million under the IndiGo Systemic Reform Assurance Scheme (‘ISRAS’). The release of bank guarantee is, inphased manner, subject to DGCA’s verification as prescribed under the scheme.The Company remains committed to regulatory compliance, continues to monitor developments and will assess any further impact if needed. Exceptional items represent impact on account of New Labour Codes and operational disruptions amounting to Rs. 9,693 million and Rs. 5,772 million respectively.a. Impact of New Labour CodesEffective 21 November 2025, The Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes (collectively referred toas the 'New Labour Codes'). These legislative changes have revised the definition of wages for the purpose of computation of employee benefits and expanded the scope and eligibility ofcertain employee related social security benefits. Based on a detailed assessment carried out by the Group, information currently available and consistent with the FAQs on key accounting implications arising from the New Labour Codesissued by the Institute of Chartered Accountants of India, the Group has evaluated the incremental impact arising from the implementation of the New Labour Codes. Considering themateriality, regulatory-driven and non-recurring nature of this impact, the Group has recognised an incremental impact of Rs. 9,693 million (consisting of gratuity and compensated absences)as an exceptional item in the consolidated financial results for the quarter and nine months period ended 31 December 2025. The Group continues to monitor the developments and clarifications from the Government pertaining to other aspects of the New Labour Codes and would provide appropriate accountingeffect as needed on the basis of such developments. During the quarter ended 31 December 2025, the Group has paid Integrated Goods and Services Tax (“IGST”) amounting to Rs. 843 million under protest, on re-import of repairedaircraft,aircraft engines and certain aircraft parts, to Customs authorities and therefore as at 31 December 2025, cumulative amount paid under protest is Rs. 21,351 million, against which appeals havebeen filed or to be filed before the appellate authorities.With respect to IGST paid on imports prior to 19 July 2021, the Group has received favourable orders from Customs, Excise and Service Tax Appellate Tribunal (“CESTAT”), New Delhi,which were appealed by the Customs authorities before the Hon’ble Supreme Court of India. On 14 July 2025, the Hon’ble Supreme Court of India dismissed one of the department appeals,thereby upholding the favourable CESTAT Order. The remaining department appeals are pending and no stay has been granted on CESTAT orders by the Hon’ble Supreme Court.Further, the Government vide Notification dated 19 July 2021 (“Amendment Notification”) amended earlier Customs exemption Notification to reiterate their position that IGST is applicableon re-import of goods after repair. The Group had filed a Writ Petition before the Hon’ble High Court of Delhi challenging the constitutional validity of the Amendment Notification. In themonth of March 2025, Hon’ble High Court of Delhi pronounced its order, holding that repair and re-import transaction is a supply of service and levy of IGST at the time of re-import of itemsrepaired abroad is unconstitutional and invalid. On 29 August 2025, department has filed an appeal against the said order before the Hon’ble Supreme Court. No stay has been granted by theHon’ble Supreme Court on such appeal till date.Based on favourable orders from Hon’ble Supreme Court of India and High Court of Delhi and advice received from the legal counsels, the Group continues to believe that, IGST is still notpayable on such re-import of repaired aircraft, aircraft engines and certain aircraft parts. Accordingly, the above amounts paid under protest till 31 December 2025 have been shown asrecoverable.
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Notes:InterGlobe Aviation LimitedCIN: L62100DL2004PLC129768Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, IndiaWebsite: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 32005.6.7.8.9. (For and on behalf of the Board of Directors)Place : Gurugram Rahul BhatiaDate : 22 January 2026Managing DirectorPost closure of the quarter ended 31 December 2025, 500 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited - Employees Stock Option Scheme2023.Consequently, the issued and paid-up share capital of the Company stands at Rs. 3,866 million.Earnings per share is not annualized for the quarter ended 31 December 2025, 30 September 2025 and 31 December 2024 and for the nine months period ended 31 December 2025 and 31 December 2024.During the previous quarter, Mr. Amitabh Kant was appointed as an Additional Director in the category of Non-Executive Non-Independent Director effective 15 September 2025 uponreceiptof security clearance from the Ministry of Civil Aviation (MoCA), subject to approval of the shareholders of the Company. During the quarter ended 31 December 2025, the Company hasreceived shareholders’ approval on 6 December 2025.Based on the "management approach" as defined in Ind AS 108 – Operating Segments, the Chief Operating Decision Maker ("CODM") evaluates the Group’s performance at an overallgrouplevel as one segment i.e. "air transportation services" based on the nature of operations, the risks and rewards and the nature of the regulatory environment across the Group's network and theinterchangeability of use of assets across the network routes of the Group. Accordingly, the disclosures as per Regulation 33 (1)(e) read with Clause (L) of Part A of Schedule IV of the SEBILODR Regulations are not applicable for the Group.During the quarter ended 31 December 2025, 17,063 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited Employees Stock Option Scheme - 2015and9,700 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited Employees Stock Option Scheme - 2023. Consequently, the issued and paid-up share capitalof the Company as on 31 December 2025 stands increased to Rs. 3,866 million.
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Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone FinancialResults of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015, as amendedReview Report toThe Board of DirectorsInterGlobe Aviation Limited1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of InterGlobe AviationLimited (the “Company”) for the quarter ended December 31, 2025 and year to date from April 01, 2025 toDecember 31, 2025 (the “Statement”), attached herewith, being submitted by the Company pursuant to therequirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,as amended (the “Listing Regulations”).2. The Company’s Management is responsible for the preparation of the Statement in accordance with the recognitionand measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim FinancialReporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issuedthereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 ofthe Listing Regulations. The Statement has been approved by the Company’s Board of Directors. Our responsibilityis to express a conclusion on the Statement based on our review.3. We conducted our review of the Statement in accordance with theStandard on Review Engagements (SRE) 2410,“Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by theInstitute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtainmoderate assurance as to whether the Statement is free of material misstatement. A review of interim financialinformation consists of making inquiries, primarily of persons responsible for financial and accounting matters, andapplying analytical and other review procedures. A review is substantially less in scope than an audit conducted inaccordance with Standards on Auditing and consequently does not enable us to obtain assurance that we wouldbecome aware of all significant matters that might be identified in an audit. Accordingly, we do not express an auditopinion.4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that theaccompanying Statement, prepared in accordance with the recognition and measurement principles laid down inthe aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013 asamended, read with relevant rules issued thereunder and other accounting principles generally accepted in India,has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the mannerin which it is to be disclosed, or that it contains any material misstatement.For S.R. Batliboi & Co. LLPChartered AccountantsICAI Firm registration number: 301003E/E300005per Sanjay VijPartnerMembership No.: 095169 UDIN: 26095169KIRFOX3619Place of Signature: Gurugram Date: January 22, 2026
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Year ended31 December202530 September202531 December202431 December202531 December202431 March 2025(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)1. Incomea. Revenue from operations 234,719 185,553 221,107 625,235 586,510 808,030 b. Other income 10,640 10,450 8,835 31,555 23,537 33,068 Total income245,359 196,003 229,942 656,790 610,047 841,098 2. Expensesa. Aircraft fuel expenses 69,445 59,618 64,226 187,389 194,443 261,973 b. Aircraft and engine rentals 5,093 3,200 7,585 13,218 21,462 30,103 c. Supplementary rentals and aircraft repair and maintenance (net) 33,924 32,692 28,580 97,403 82,059 112,227 d. Airport fees and charges 17,180 15,155 15,187 48,604 41,896 57,531 e. Purchase of stock-in-trade (In-flight) 1,358 1,144 1,106 3,521 2,756 3,834 f. Changes in inventories of stock-in-trade 3 (17) (16) 10 2 (2) g. Employee benefits expense 18,770 18,235 17,256 55,304 49,792 67,301 h. Finance costs 15,570 14,749 13,081 44,345 37,058 50,889 i. Depreciation and amortisation expense 27,681 26,293 22,154 79,505 61,595 86,366 j. Foreign exchange loss (net) 11,169 29,048 14,583 41,693 17,564 16,189 k. Other expenses 24,250 21,024 21,000 67,066 57,297 78,812 Total expenses224,443 221,141 204,742 638,058 565,924 765,223 3. 20,916 (25,138) 25,200 18,732 44,123 75,875 4.14,668 - - 14,668 - - 5. 6,248 (25,138) 25,200 4,064 44,123 75,875 6.a. Current tax charge / (credit) (1,548) 1,003 780 798 2,324 3,338 b. Deferred tax charge 1,670 - - 1,670 - 4 122 1,003 780 2,468 2,324 3,342 7. 6,126 (26,141) 24,420 1,596 41,799 72,533 8.a. Items that will not be reclassified to profit or loss- Remeasurements of defined benefit plans (net of tax) 2 10 (9) (80) 0 (52)b. Items that will be reclassified to profit or loss- Debt instruments through other comprehensive income (net of tax) 2 (7) 23 45 34 40 4 3 14 (35) 34 (12) 9. 6,130 (26,138) 24,434 1,561 41,833 72,521 10.3,866 3,866 3,864 3,866 3,864 3,864 11. 89,204 12.a. Basic (Rs.) 15.85 (67.63) 63.21 4.13 108.24 187.79 b. Diluted (Rs.) 15.82 (67.63) 63.12 4.12 108.10 187.54 Other comprehensive incomeProfit / (loss) before exceptional items and tax for the period / year (1-2)Tax expenseTotal tax expenseProfit / (loss) for the period / year (5-6)Exceptional items (Refer to Note 2)Profit / (loss) before tax for the period / year (3-4)Reserves excluding revaluation reserves as per balance sheetEarnings Per Share (of Rs. 10 each) (Refer to Note 9):See accompanying notes to the unaudited standalone financial resultsOther comprehensive income / (loss) for the period / year, net of taxTotal comprehensive income / (loss) for the period / year (7+8)Paid-up equity share capital (face value of Rs. 10 each, fully paid) InterGlobe Aviation LimitedCIN: L62100DL2004PLC129768Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, IndiaWebsite: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200Statement of unaudited standalone financial results for the quarter and nine months period ended 31 December 2025Nine months period endedQuarter endedS. No.Particulars(Rupees in millions, except for share data and if otherwise stated)
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Notes:1.2. 3.4.The income tax authority has assessed the return of income of the Company up to Assessment Year (“AY”) 2022-23 and has revised the taxable income for certain years on account of disallowance ofcertainexpenses and in respect of the tax treatment of certain incentives received from the manufacturer in respect of acquisition of aircraft and engines. The Company has not yet received assessment order forsubsequent years.The Company has received favourable orders against such disallowances / additions from the Special Bench of Income Tax Appellate Tribunal (“ITAT”) for AY 2012-13 and Divisional Bench of ITAT forcertain years till AY 2015-16. However, the income tax authority’s appeals against these orders are pending before the Hon’ble High Court of Delhi.The Company believes, based on legal advice from counsels, that the view taken by ITAT Special Bench and Divisional Bench is sustainable in higher courts and accordingly, no provision is required to berecorded in the books of account.The tax exposure (excluding interest and penalty) for matters disallowed by income tax authorities up to AY 2022-23 i.e. the last year assessed, amounts to Rs. 24,185 million in case the incentives are held tobe taxable. The above amount is net of Rs. 5,332 million, which represents minimum alternate tax recoverable written off in the earlier years. Further, the above tax exposure will also impact carried forwardlosses having a tax effect of Rs. 18,227 million.During the quarter ended 31 December 2025, the Company has paid Integrated Goods and Services Tax (“IGST”) amounting to Rs. 843 million under protest, on re-import of repaired aircraft, aircraftenginesand certain aircraft parts, to Customs authorities and therefore as at 31 December 2025, cumulative amount paid under protest is Rs. 21,351 million, against which appeals have been filed or to be filed beforethe appellate authorities.With respect to IGST paid on imports prior to 19 July 2021, the Company has received favourable orders from Customs, Excise and Service Tax Appellate Tribunal (“CESTAT”), New Delhi, which wereappealed by the Customs authorities before the Hon’ble Supreme Court of India. On 14 July 2025, the Hon’ble Supreme Court of India dismissed one of the department appeals, thereby upholding thefavourable CESTAT Order. The remaining department appeals are pending and no stay has been granted on CESTAT orders by the Hon’ble Supreme Court.Further, the Government vide Notification dated 19 July 2021 (“Amendment Notification”) amended earlier Customs exemption Notification to reiterate their position that IGST is applicable on re-import ofgoods after repair. The Company had filed a Writ Petition before the Hon’ble High Court of Delhi challenging the constitutional validity of the Amendment Notification. In the month of March 2025, Hon’bleHigh Court of Delhi pronounced its order, holding that repair and re-import transaction is a supply of service and levy of IGST at the time of re-import of items repaired abroad is unconstitutional and invalid.On 29 August 2025, department has filed an appeal against the said order before the Hon’ble Supreme Court. No stay has been granted by the Hon’ble Supreme Court on such appeal till date.Based on favourable orders from Hon’ble Supreme Court of India and High Court of Delhi and advice received from the legal counsels, the Company continues to believe that, IGST is still not payable on suchre-import of repaired aircraft, aircraft engines and certain aircraft parts. Accordingly, the above amounts paid under protest till 31 December 2025 have been shown as recoverable. InterGlobe Aviation LimitedCIN: L62100DL2004PLC129768Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, IndiaWebsite: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200The above unaudited standalone financial results for the quarter and nine months period ended 31 December 2025 of InterGlobe Aviation Limited (the "Company") were reviewed by the Audit Committeeandsubsequently approved by the Board of Directors at their respective meetings held on 22 January 2026. The results have been subjected to a limited review by the Statutory Auditors of the Company pursuant toRegulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time ("SEBI LODR Regulations"), who have issuedan unmodified conclusion on the same. Exceptional items represent impact on account of New Labour Codes and operational disruptions amounting to Rs. 8,896 million and Rs. 5,772 million respectively.a. Impact of New Labour CodesEffective 21 November 2025, The Government of India has consolidated multiple existing Labour legislations into a unified framework comprising four Labour Codes (collectively referred to as the 'NewLabour Codes'). These legislative changes have revised the definition of wages for the purpose of computation of employee benefits and expanded the scope and eligibility of certain employee related socialsecurity benefits. Based on a detailed assessment carried out by the Company, information currently available and consistent with the FAQs on key accounting implications arising from the New Labour Codes issued by theInstitute of Chartered Accountants of India, the Company has evaluated the incremental impact arising from the implementation of the New Labour Codes. Considering the materiality, regulatory-driven andnon-recurring nature of this impact, the Company has recognized an incremental impact of Rs. 8,896 million (consisting of gratuity and compensated absences) as an exceptional item in the standalone financialresults for the quarter and nine months period ended 31 December 2025. The Company continues to monitor the developments and clarifications from the Government pertaining to other aspects of the New Labour Codes and would provide appropriate accounting effect as neededon the basis of such developments.b. Impact of operational disruptionsDuring the first week of December 2025, the Company experienced unforeseen operational challenges that resulted in significant flight cancellations and delays between 3 December 2025 and 5 December2025. These disruptions led to a material reduction in passenger revenue during the affected period. To restore operations, the Company undertook measures to reboot its network & systems and repositioncrews. These corrective actions subsequently enabled the Company to operate an increased number of flights with improved stability.The Company, in accordance with the applicable regulation, is compensating the affected customers and in addition as a Gesture of Care also extending travel vouchers to the severely impacted customers. Theestimated impact of these items, along with other associated costs amounting to Rs. 5,550 million has been recognised as an exceptional item in the standalone financial results for the quarter and nine monthsperiod ended 31 December 2025. Revenue from operations under Ind AS 115, net of the exceptional item, for the quarter and nine months period ended 31 December 2025 would have been Rs. 229,372 million and Rs. 619,888 million, respectively.Further, on 17 January 2026, the Company received an order from the Directorate General of Civil Aviation (DGCA) imposing a penalty of Rs. 222 million in connection with the operational disruptions. Whilethe order is being evaluated by the Company, the amount has been provisioned for as an exceptional item in the standalone financial results for the quarter and nine months period ended 31 December 2025. The DGCA has also directed the Company to furnish a bank guarantee of Rs. 500 million under the IndiGo Systemic Reform Assurance Scheme (‘ISRAS’). The release of bank guarantee is, in phased manner,subject to DGCA’s verification as prescribed under the scheme.The Company remains committed to regulatory compliance, continues to monitor developments and will assess any further impact if needed.
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Notes:InterGlobe Aviation LimitedCIN: L62100DL2004PLC129768Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, IndiaWebsite: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 32005.6.7.8.9.10.(For and on behalf of the Board of Directors)Place : Gurugram Rahul BhatiaDate : 22 January 2026Managing DirectorEarnings per share is not annualized for the quarter ended 31 December 2025, 30 September 2025 and 31 December 2024 and for the nine months period ended 31 December 2025 and 31 December 2024.During the quarter ended 31 December 2025, 17,063 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited Employees Stock Option Scheme - 2015 and 9,700equityshares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited Employees Stock Option Scheme - 2023. Consequently, the issued and paid-up share capital of the Company as on 31December 2025 stands increased to Rs. 3,866 million. During the previous quarter, Mr. Amitabh Kant was appointed as an Additional Director in the category of Non-Executive Non-Independent Director effective 15 September 2025 upon receipt ofsecurityclearance from the Ministry of Civil Aviation (MoCA), subject to approval of the shareholders of the Company. During the quarter ended 31 December 2025, the Company has received shareholders’ approvalon 6 December 2025.Post closure of the quarter ended 31 December 2025, 500 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited - Employees Stock Option Scheme 2023.Consequently,the issued and paid-up share capital of the Company stands at Rs. 3,866 million.The figure "0" represents the amounts less than Rs. 0.5 million.Based on the "management approach" as defined in Ind AS 108 – Operating Segments, the Chief Operating Decision Maker ("CODM") evaluates the Company’s performance at an overall company level asonesegment i.e. "air transportation services" based on the nature of operations, the risks and rewards and the nature of the regulatory environment across the Company's network and the interchangeability of use ofassets across the network routes of the Company. Accordingly, the disclosures as per Regulation 33 (1)(e) read with Clause (L) of Part A of Schedule IV of the SEBI LODR Regulations are not applicable forthe Company.