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 October 29, 2026 IGAL/SECT/10-26/5 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 Subject: Compliances under Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) – Outcome of the Board Meeting Dear Sir/ Madam, The Board of Directors of the Company, in its meeting held on Thursday, October 29, 2026, inter alia, considered and approved the unaudited standalone and consolidated financial results (“Financial Results”) for the quarter and half year ended September 30, 2026. In this regard, please find enclosed: i. Unaudited Financial Results along with Limited Review Reports thereon issued by the Statutory Auditors M/s. S.R. Batliboi & Co. LLP, Chartered Accountants. ii. Investor presentation and press release. The Board meeting commenced at 1355 hours (IST) and concluded at 1540 hours (IST). This disclosure is also being made available on the Company’s website 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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S.R. Batliboi & Co LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294 Regd. Ofce : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 67, Institutional Area Sector 44, Gurugram - 122 003 Haryana, India Tel: +91 124 681 6000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors InterGlobe Aviation Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of InterGlobe Aviation Limited (the “Holding Company”), its subsidiaries and its Controlled Trust, (the Holding Company, its subsidiaries and its Controlled Trust together referred to as “the Group”), for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors. Our responsibility 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 Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all 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, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Agile Airport Services Private Limited, InterGlobe Aviation 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 our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, 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 manner in which it is to be disclosed, or that it contains any material misstatement. For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005 per Aravind K Partner Membership No.: 221268 UDIN: 26221268XVXJGF9943 Place of Signature: Gurugram Date: October 29, 2026 ARAVIND KRISHNAN Digitally signed by ARAVIND KRISHNAN Date: 2026.10.29 15:31:18 +05'30'
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Particulars Year ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Income a. Revenue from operations 233,638 245,841 185,553 479,479 390,516 849,619 b. Other income 9,481 10,300 10,442 19,781 20,905 45,515 Total income 243,119 256,141 195,995 499,260 411,421 895,134 2. Expenses a. Aircraft fuel expenses (Refer to Note 5) 99,668 108,329 59,618 207,997 117,944 253,892 b. Aircraft and engine rentals 4,264 5,397 3,200 9,661 8,125 20,847 c. Supplementary rentals and aircraft repair and maintenance (net) 35,809 34,975 32,630 70,784 63,335 129,121 d. Airport fees and charges 16,582 16,383 15,155 32,965 31,424 65,482 e. Purchase of stock-in-trade (In-flight) 1,468 1,448 1,144 2,916 2,163 4,963 f. Changes in inventories of stock-in-trade 2 17 (17) 19 7 (14) g. Employee benefits expense 22,737 22,793 20,448 45,530 40,947 82,722 h. Finance costs 16,578 15,653 14,649 32,231 28,610 58,908 i. Depreciation and amortisation expense 30,742 29,702 26,405 60,444 52,065 108,082 j. Foreign exchange loss (net) 13,332 825 28,921 14,157 30,394 89,757 k. Other expenses 20,702 23,003 18,659 43,705 38,117 83,015 Total expenses 261,884 258,525 220,812 520,409 413,131 896,775 3. (18,765) (2,384) (24,817) (21,149) (1,710) (1,641) 4. - - - - - 17,964 5. (18,765) (2,384) (24,817) (21,149) (1,710) (19,605) 6. a. Current tax 26 (4) 1,004 22 2,348 139 b. Deferred tax - - - - - 4,192 26 (4) 1,004 22 2,348 4,331 7. (18,791) (2,380) (25,821) (21,171) (4,058) (23,936) 8. a. Items that will not be reclassified to profit or loss - Remeasurements gain / (loss) of defined benefit plans (net of tax) 346 77 12 423 (86) 270 - Equity instruments through other comprehensive income (net of tax) 3 0 - 3 - 9 b. Items that will be reclassified to profit or loss - Net gain / (loss) due to foreign currency translation differences (net of tax)1,006 (11) 145 995 179 3,457 - Debt instruments through other comprehensive income (net of tax) (128) (43) (7) (171) 43 22 1,227 23 150 1,250 136 3,758 9. (17,564) (2,357) (25,671) (19,921) (3,922) (20,178) 10. Profit / (loss) for the period / year attributable to - Owners of the Company (18,786) (2,376) (25,817) (21,162) (4,054) (23,919) - Non-controlling interest (5) (4) (4) (9) (4) (17) 11. - Owners of the Company 1,226 23 150 1,249 136 3,755 - Non-controlling interest 1 0 - 1 - 3 12. - Owners of the Company (17,560) (2,353) (25,667) (19,913) (3,918) (20,164) - Non-controlling interest (4) (4) (4) (8) (4) (14) 13. 3,867 3,867 3,866 3,867 3,866 3,866 14. 65,845 15. a. Basic (Rs.) (48.58) (6.15) (66.79) (54.73) (10.49) (61.88) b. Diluted (Rs.) (48.58) (6.15) (66.79) (54.73) (10.49) (61.88) Reserves excluding revaluation reserves as per balance sheet Earnings Per Share (of Rs. 10 each) (Refer to Note 9): See accompanying notes to the unaudited consolidated financial results Other comprehensive income Other comprehensive income for the period / year, net of tax Total 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 for the period / year attributable to Total comprehensive income / (loss) for the period / year attributable to (Rupees in millions, except for share data and if otherwise stated) Profit / (loss) for the period / year (5-6) Profit / (loss) before exceptional items and tax for the period / year (1-2) Exceptional items Profit / (loss) before tax for the period / year (3-4) Tax expense / (credit) Total tax expense / (credit) Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Statement of unaudited consolidated financial results for the quarter and half year ended 30 September 2026 InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Quarter endedS. No. Half year ended
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S. No. Particulars As at 30 September 2026 As at 31 March 2026 (Unaudited) (Audited) I. ASSETS Non-current assets a. Property, plant and equipment 126,745 110,871 b. Right of use assets 599,565 520,540 c. Capital work-in-progress 598 387 d. Intangible assets 111 160 e. Intangible assets under development 304 206 f. Financial assets (i) Investments 7,144 19,310 (ii) Other financial assets 86,323 71,107 g. Income tax assets (net) 21,150 19,775 h. Other non-current assets 46,560 38,373 Total non-current assets 888,500 780,729 Current assets a. Inventories 10,737 9,848 b. Financial assets (i) Investments 257,412 257,438 (ii) Trade receivables 10,088 5,996 (iii) Cash and cash equivalents 23,562 13,239 (iv) Bank balances other than cash and cash equivalents, above 239,525 226,754 (v) Other financial assets 39,913 47,947 c. Other current assets 11,949 18,070 Total current assets 593,186 579,292 TOTAL ASSETS 1,481,686 1,360,021 II. EQUITY AND LIABILITIES Equity a. Equity share capital 3,867 3,866 b. Other equity 46,086 65,845 Equity attributable to the owners of the Company 49,953 69,711 c. Non-controlling interest 259 163 Total equity 50,212 69,874 Liabilities Non-current liabilities a. Financial liabilities (i) Lease liabilities 725,188 644,705 (ii) Other financial liabilities 247,816 229,111 b. Provisions 34,863 33,100 c. Other non-current liabilities 526 521 Total non-current liabilities 1,008,393 907,437 Current liabilities a. Financial liabilities (i) Borrowings 22,809 18,063 (ii) Lease liabilities 125,034 114,724 (iii) Trade payables - total outstanding dues of micro enterprises and small enterprises 637 607 - total outstanding dues of creditors other than micro enterprises and small enterprises 53,508 49,298 (iv) Other financial liabilities 88,928 86,060 b. Other current liabilities 110,370 87,705 c. Provisions 21,795 26,210 d. Current tax liabilities (net) - 43 Total current liabilities 423,081 382,710 TOTAL EQUITY AND LIABILITIES 1,481,686 1,360,021 See accompanying notes to the unaudited consolidated financial results (Rupees in millions) InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Consolidated Statement of Assets and Liabilities as at 30 September 2026
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Particulars 30 September 2026 30 September 2025 (Unaudited) (Unaudited) A. Cash flows from operating activities Profit / (loss) before tax (21,149) (1,710) Adjustments for: Depreciation and amortisation expense 60,444 52,065 Interest on lease liabilities 26,198 23,283 Interest accretion on provisions and other financial liabilities measured at amortised cost 5,858 5,256 Interest on borrowings measured at amortised cost 173 67 Mark to market gain on current investments at fair value (5,544) (8,094) Net gain on sale of current investments (1,684) (741) Interest income from bank deposits (6,946) (6,570) Interest income from financial assets at amortised cost (4,079) (3,044) Unrealised foreign exchange loss (net) 15,879 31,623 Unrealised gain on change in fair value of derivatives (net) (479) (1,580) Non cash incentives, claims and credits (45) (163) Share based payments expense 92 430 Liabilities no longer required written back - (2) Property, plant and equipment written off 273 205 (Profit) / loss on sale of property, plant and equipment (net) 6 (11) Impairment loss on trade receivables 21 187 Operating profit before working capital changes 69,018 91,201 Adjustments for: Increase in other financial assets and other assets (2,557) (14,404) Increase in inventories (889) (526) Increase in trade payables, other financial liabilities, other liabilities and provisions 36,117 34,249 Increase in trade receivables (4,073) (974) Cash generated from operating activities 97,616 109,546 Income tax paid (net) (1,440) (1,645) Net cash generated from operating activities 96,176 107,901 B. Cash flows from investing activities Purchase of mutual funds / equity instruments / bonds / commercial paper / certificate of deposit (323,323) (172,247) Proceeds from sale of mutual funds / bonds / commercial paper / certificate of deposit 342,031 137,719 Investment in bank deposits (191,547) (119,595) Proceeds from maturity of bank deposits 174,904 116,111 Interest received on bank deposits, bonds, commercial paper and certificate of deposit 9,389 6,486 Major inspection, overhaul costs and initial direct cost on leased aircraft (including capital advances and capital creditors) (1,010) (2,567) Purchase of property, plant and equipment and intangible assets (including capital advances and capital creditors) (19,969) (1,832) Proceeds from sale of property, plant and equipment 77 39 Net cash used in investing activities (9,448) (35,886) C. Cash flows from financing activities Repayment of lease liabilities (net of incentives) (56,360) (41,447) Interest paid on lease liabilities (24,808) (22,253) Proceeds from / (repayment) of short-term borrowings (net) 4,730 1 Interest paid on borrowings (157) (69) Dividend paid - (3,865) Proceeds from issue of units of controlled trust to non-controlling interests 104 - Securities premium received on shares issued pursuant to share based payment arrangements 62 8 Proceeds from issue of shares pursuant to share based payment arrangements 1 2 Net cash used in financing activities (76,428) (67,623) For the half year ended InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Consolidated Statement of Cash Flows for the half year ended 30 September 2026 (Rupees in millions) S. No.
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Particulars 30 September 2026 30 September 2025 (Unaudited) (Unaudited) For the half year ended InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Consolidated Statement of Cash Flows for the half year ended 30 September 2026 (Rupees in millions) S. No. Net increase in cash and cash equivalents during the period (A+B+C) 10,300 4,392 Effect of exchange rate changes on cash and cash equivalents held in foreign currency 23 31 D. Cash and cash equivalents at the beginning of the period Cash on hand 13 18 Balances with banks: - On current accounts 3,074 4,684 - On deposit accounts (with original maturity of three months or less) 10,152 6,029 13,239 10,731 E. Cash and cash equivalents as at the end of the period Cash on hand 3 10 Balances with banks: - On current accounts 16,850 1,777 - On deposit accounts (with original maturity of three months or less) 6,709 13,367 23,562 15,154 See accompanying notes to the unaudited consolidated financial results
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Notes: 1. 2. 3. 4. 5. 6. During the quarter ended 30 September 2026, the Group has paid Integrated Goods and Services Tax (“IGST”) amounting to Rs. 1,068 million under protest, on re-import of repaired aircraft, aircraft engines and certain aircraft parts, to Customs authorities and therefore as at 30 September 2026, cumulative amount paid under protest is Rs. 24,000 million, against which appeals have been filed or to be filed before the appellate authorities. With respect to IGST paid on imports prior to 19 July 2021, the Group received three 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. The Hon’ble Supreme Court dismissed one of the departmental appeals on 14 July 2025, and subsequently dismissed department’s review petition on 17 February 2026. The remaining two departmental appeals are pending before the Hon’ble Supreme Court and no stay has been granted on CESTAT orders. 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 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 the month 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 items repaired abroad is unconstitutional and invalid. On 29 August 2025, department filed an appeal against the said order before the Hon’ble Supreme Court, which is pending. 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 Group continues to believe that, IGST is still not payable on such re-import of repaired aircraft, aircraft engines and certain aircraft parts. Accordingly, the above amounts paid under protest till 30 September 2026 have been shown as recoverable. Pursuant to the significant increase in Aviation Turbine Fuel ("ATF") prices arising from geopolitical developments in West Asia, the Ministry of Petroleum and Natural Gas ("MoPNG") introduced a price capping mechanism (capping of 25% over March 2026 declared prices) to mitigate the impact of unprecedented fuel cost increase on the domestic aviation sector. In accordance with directions issued by MoPNG, Oil Marketing Companies ("OMCs") implemented the price capping for ATF supplied to domestic airlines for domestic operations from 1 April 2026 to 8 June 2026. Accordingly, the Group accrued and settled Aircraft fuel expenses up to 8 June 2026 based on the capped prices and the invoices received from the OMCs. Subsequently, MoPNG announced a Price Stabilisation Fund (“PSF Scheme”) with effect from 9 June 2026, pursuant to which OMCs were required to supply ATF at fixed prices. The Group opted not to participate in the PSF Scheme. Accordingly, the Group accrued and settled Aircraft fuel expenses at prevailing market prices in line with agreed contractual arrangements. 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 overall group level 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 the interchangeability 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 SEBI LODR Regulations are not applicable for the Group. In connection with the operational disruptions experienced during December 2025, the Company received an order from the Directorate General of Civil Aviation (DGCA) on 17 January 2026 to furnish bank guarantees amounting to Rs. 500 million for implementation of certain systematic reforms, which are subject to phased release linked to satisfactory outcome of the reforms by the Company. The bank guarantees in accordance with the DGCA order were furnished by the Company during the quarter ended 31 March 2026. Further, Competition Commission of India vide its order dated 4 February 2026, based on prima facie alleged violation of imposition of unfair conditions and limiting or restriction of provision of services by the Company, directed its Director General to undertake an investigation of the Company's domestic operations, following a passenger complaint relating to flight cancellations during December 2025. During the quarter ended 30 September 2026, pursuant to a ‘Commitment Application’ submitted by the Company in accordance with applicable laws, the Competition Commission of India vide its order dated 23 July 2026, kept the investigation in abeyance pending consideration of the Company’s proposed commitments. Based on management's assessment, no provision has been made as the outcome of the matter is awaited as on date. The Company remains committed to regulatory compliance, continues to monitor developments and will assess any further impact if needed. 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 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 not yet 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 of ITAT 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 is required 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 the incentives 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 tax exposure will also impact carried forward losses having a tax effect of Rs. 18,227 million. InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 The above unaudited consolidated financial results for the quarter and half year ended 30 September 2026 of InterGlobe Aviation Limited (the "Company") were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their respective meetings held on 29 October 2026. The results have been subjected to a limited review by the Statutory Auditors of the Company and its subsidiaries (including controlled trust) (namely 'Agile Airport Services Private Limited', 'InterGlobe Aviation Financial Services IFSC Private Limited', 'InterGlobe Aviation Ventures LLP' and 'IndiGo Ventures Fund-I') [the Company and its subsidiaries (including controlled trust) together referred to as "the Group"] pursuant to Regulation 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 issued an unmodified conclusion on the same.
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Notes: InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 7. 8. 9. 10. (For and on behalf of the Board of Directors) Place : Gurugram Rahul Bhatia Date : 29 October 2026 Managing Director Earnings per share is not annualized for the quarter ended 30 September 2026, 30 June 2026 and 30 September 2025 and for the half year ended 30 September 2026 and 30 September 2025. In view of losses incurred during the current and previous period(s), the effect of dilutive potential equity shares is anti-dilutive and accordingly not considered in the calculation of diluted earnings per share. The figure "0" represents the amounts less than Rs. 0.5 million. During the quarter ended 30 September 2026, the Nomination and Remuneration Committee approved grant of 115,500 performance stock options under the InterGlobe Aviation Limited Employees Stock Option Scheme – 2023 to certain eligible employee[s] of the Company. Further, 9,099 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. 3,867 million. During the quarter ended 30 September 2026, the following changes in the management took place: a) Mr. Gaurav Negi was re-designated and transitioned from Chief Financial Officer to the Advisor to the Managing Director, effective close of business hours on 27 July 2026. b) Mr. Kiran Thadimarri was appointed as the Chief Financial Officer (Key Managerial Personnel), effective 28 July 2026. c) Mr. William Matthew Walsh assumed charge as the Chief Executive Officer, effective 3 August 2026. Digitally signed by: Rahul Bhatia DN: CN = Rahul Bhatia C = IN O = Personal Date: 2026.10.29 15:20: 56 +05'30' Rahul Bhatia
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S.R. Batliboi & Co LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294 Regd. Ofce : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 67, Institutional Area Sector 44, Gurugram - 122 003 Haryana, India Tel: +91 124 681 6000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors InterGlobe Aviation Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of InterGlobe Aviation Limited (the “Company”) for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement”), attached herewith, being submitted by the Company pursuant to the requirements 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 recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company’s Board of Directors. Our responsibility 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 Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013 as amended, 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 manner in which it is to be disclosed, or that it contains any material misstatement. For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005 per Aravind K Partner Membership No.: 221268 UDIN: 26221268WQNGKW5469 Place of Signature: Gurugram Date: October 29, 2026 ARAVIND KRISHNAN Digitally signed by ARAVIND KRISHNAN Date: 2026.10.29 15:31:59 +05'30'
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Year ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Income a. Revenue from operations 233,638 245,841 185,553 479,479 390,516 849,619 b. Other income 9,378 10,380 10,450 19,758 20,915 45,495 Total income 243,016 256,221 196,003 499,237 411,431 895,114 2. Expenses a. Aircraft fuel expenses (Refer to Note 5) 99,668 108,329 59,618 207,997 117,944 253,892 b. Aircraft and engine rentals 4,264 5,397 3,200 9,661 8,125 20,847 c. Supplementary rentals and aircraft repair and maintenance (net) 36,314 35,302 32,692 71,616 63,479 129,493 d. Airport fees and charges 16,582 16,383 15,155 32,965 31,424 65,482 e. Purchase of stock-in-trade (In-flight) 1,468 1,448 1,144 2,916 2,163 4,963 f. Changes in inventories of stock-in-trade 2 17 (17) 19 7 (14) g. Employee benefits expense 20,313 20,320 18,235 40,633 36,534 73,601 h. Finance costs 17,421 16,791 14,749 34,212 28,775 60,088 i. Depreciation and amortisation expense 30,425 29,517 26,293 59,942 51,824 107,514 j. Foreign exchange loss (net) 13,700 793 29,048 14,493 30,524 90,509 k. Other expenses 23,411 25,743 21,024 49,154 42,816 92,407 Total expenses 263,568 260,040 221,141 523,608 413,615 898,782 3. (20,552) (3,819) (25,138) (24,371) (2,184) (3,668) 4. - - - - - 17,165 5. (20,552) (3,819) (25,138) (24,371) (2,184) (20,833) 6. a. Current tax - (4) 1,003 (4) 2,346 - b. Deferred tax - - - - - 4,192 - (4) 1,003 (4) 2,346 4,192 7. (20,552) (3,815) (26,141) (24,367) (4,530) (25,025) 8. a. Items that will not be reclassified to profit or loss - Remeasurements gain / (loss) of defined benefit plans (net of tax) 288 73 10 361 (82) 255 b. Items that will be reclassified to profit or loss - Debt instruments through other comprehensive income (net of tax) (128) (43) (7) (171) 43 22 160 30 3 190 (39) 277 9. (20,392) (3,785) (26,138) (24,177) (4,569) (24,748) 10. 3,867 3,867 3,866 3,867 3,866 3,866 11. 60,654 12. a. Basic (Rs.) (53.15) (9.87) (67.63) (63.02) (11.72) (64.74) b. Diluted (Rs.) (53.15) (9.87) (67.63) (63.02) (11.72) (64.74) Reserves excluding revaluation reserves as per balance sheet Earnings Per Share (of Rs. 10 each) (Refer to Note 9): Other comprehensive income Profit / (loss) before exceptional items and tax for the period / year (1-2) Tax expense / (credit) Total tax expense / (credit) Profit / (loss) for the period / year (5-6) Exceptional items Profit / (loss) before tax for the period / year (3-4) Half year ended See accompanying notes to the unaudited standalone financial results Other comprehensive income / (loss) for the period / year, net of tax Total comprehensive income / (loss) for the period / year (7+8) Paid-up equity share capital (face value of Rs. 10 each, fully paid) InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Statement of unaudited standalone financial results for the quarter and half year ended 30 September 2026 Quarter endedS. No. Particulars (Rupees in millions, except for share data and if otherwise stated)
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Standalone Statement of Assets and Liabilities as at 30 September 2026 S. No. Particulars As at 30 September 2026 As at 31 March 2026 (Unaudited) (Audited) I. ASSETS Non-current assets a. Property, plant and equipment 37,363 36,661 b. Right of use assets 677,181 588,654 c. Capital work-in-progress 343 155 d. Intangible assets 104 160 e. Intangible assets under development 304 206 f. Financial assets (i) Investments 84,896 96,947 (ii) Loans 1,898 1,580 (iii) Other financial assets 87,407 71,743 g. Income tax assets (net) 20,313 19,181 h. Other non-current assets 46,060 38,279 Total non-current assets 955,869 853,566 Current assets a. Inventories 10,737 9,848 b. Financial assets (i) Investments 254,446 255,179 (ii) Trade receivables 10,088 5,996 (iii) Cash and cash equivalents 9,863 10,778 (iv) Bank balances other than cash and cash equivalents, above 223,275 225,518 (v) Loans 349 281 (vi) Other financial assets 39,747 47,916 c. Other current assets 11,697 17,856 Total current assets 560,202 573,372 TOTAL ASSETS 1,516,071 1,426,938 II. EQUITY AND LIABILITIES Equity a. Equity share capital 3,867 3,866 b. Other equity 36,632 60,654 Total equity 40,499 64,520 Liabilities Non-current liabilities a. Financial liabilities (i) Lease liabilities 772,308 711,649 (ii) Other financial liabilities 247,726 229,079 b. Provisions 34,567 32,087 c. Other non-current liabilities 524 516 Total non-current liabilities 1,055,125 973,331 Current liabilities a. Financial liabilities (i) Borrowings 18,000 18,063 (ii) Lease liabilities 130,093 122,751 (iii) Trade payables - total outstanding dues of micro enterprises and small enterprises 625 603 - total outstanding dues of creditors other than micro enterprises and small enterprises 53,474 49,394 (iv) Other financial liabilities 88,923 86,007 b. Other current liabilities 107,862 86,328 c. Provisions 21,470 25,898 d. Current tax liabilities (net) - 43 Total current liabilities 420,447 389,087 TOTAL EQUITY AND LIABILITIES 1,516,071 1,426,938 See accompanying notes to the unaudited standalone financial results InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 (Rupees in millions)
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S. No. Particulars 30 September 2026 30 September 2025 (Unaudited) (Unaudited) A. Cash flows from operating activities Profit / (loss) before tax (24,371) (2,184) Adjustments for: Depreciation and amortisation expense 59,942 51,824 Interest on lease liabilities 28,252 23,449 Interest accretion on provisions and other financial liabilities measured at amortised cost 5,857 5,255 Interest on borrowings measured at amortised cost 101 67 Mark to market gain on current investments at fair value (5,534) (8,052) Net gain on sale of current investments (1,616) (734) Interest income from bank deposits (6,602) (6,548) Interest income from financial assets at amortised cost (4,418) (3,122) Unrealised foreign exchange loss (net) 16,123 31,730 Unrealised gain on change in fair value of derivatives (net) (479) (1,580) Non cash incentives, claims and credits (45) (163) Share based payments expense 88 426 Liabilities no longer required written back - (2) Property, plant and equipment written off 273 205 (Profit) / loss on sale of property, plant and equipment (net) 6 (11) Impairment loss on trade receivables 21 187 Operating profit before working capital changes 67,598 90,747 Adjustments for: Increase in other financial assets and other assets (2,816) (14,824) Increase in inventories (889) (526) Increase in trade payables, other financial liabilities, other liabilities and provisions 35,419 33,719 Increase in trade receivables (4,073) (1,031) Cash generated from operating activities 95,239 108,085 Income tax paid (net) (1,171) (1,361) Net cash generated from operating activities 94,068 106,724 B. Cash flows from investing activities Purchase of mutual funds / equity instruments / bonds / commercial paper / certificate of deposit (318,824) (169,853) Proceeds from sale of mutual funds / bonds / commercial paper / certificate of deposit 338,460 136,005 Investment in bank deposits (153,933) (119,340) Proceeds from maturity of bank deposits 152,304 116,705 Equity investment in subsidiaries (including controlled trust) (209) (27) Intercorporate loan given to subsidiaries (547) (450) Repayment of intercorporate loan given to subsidiaries 161 102 Interest received on bank deposits, bonds, commercial paper, certificate of deposit and intercorporate loan to subsidiaries 9,183 6,537 Major inspection, overhaul costs and initial direct cost on leased aircraft (including capital advances and capital creditors) (984) (2,567) Purchase of property, plant and equipment and intangible assets (including capital advances and capital creditors) (9,545) (1,398) Proceeds from sale of property, plant and equipment 77 28 Net cash generated from / used in investing activities 16,143 (34,258) C. Cash flows from financing activities Repayment of lease liabilities (net of incentives) (84,210) (41,522) Interest paid on lease liabilities (26,838) (22,410) Proceeds from / (repayment) of short-term borrowings (net) (63) 1 Interest paid on borrowings (101) (69) Dividend paid - (3,865) Securities premium received on shares issued pursuant to share based payment arrangements 62 8 Proceeds from issue of shares pursuant to share based payment arrangements 1 2 Net cash used in financing activities (111,149) (67,855) For the half year ended InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Standalone Statement of Cash Flows for the half year ended 30 September 2026 (Rupees in millions)
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S. No. Particulars 30 September 2026 30 September 2025 (Unaudited) (Unaudited) For the half year ended InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 Standalone Statement of Cash Flows for the half year ended 30 September 2026 (Rupees in millions) Net (decrease) / increase in cash and cash equivalents during the period (A+B+C) (938) 4,611 Effect of exchange rate changes on cash and cash equivalents held in foreign currency 23 31 D. Cash and cash equivalents at the beginning of the period Cash on hand 11 16 Balances with banks: - On current accounts 2,601 4,564 - On deposit accounts (with original maturity of three months or less) 8,166 5,385 10,778 9,965 E. Cash and cash equivalents as at the end of the period Cash on hand 2 9 Balances with banks: - On current accounts 4,629 1,439 - On deposit accounts (with original maturity of three months or less) 5,232 13,159 9,863 14,607 See accompanying notes to the unaudited standalone financial results
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Notes: 1. 2. 3. 4. 5. Pursuant to the significant increase in Aviation Turbine Fuel ("ATF") prices arising from geopolitical developments in West Asia, the Ministry of Petroleum and Natural Gas ("MoPNG") introduced a price capping mechanism (capping of 25% over March 2026 declared prices) to mitigate the impact of unprecedented fuel cost increase on the domestic aviation sector. In accordance with directions issued by MoPNG, Oil Marketing Companies ("OMCs") implemented the price capping for ATF supplied to domestic airlines for domestic operations from 1 April 2026 to 8 June 2026. Accordingly, the Company accrued and settled Aircraft fuel expenses up to 8 June 2026 based on the capped prices and the invoices received from the OMCs. Subsequently, MoPNG announced a Price Stabilisation Fund (“PSF Scheme”) with effect from 9 June 2026, pursuant to which OMCs were required to supply ATF at fixed prices. The Company opted not to participate in the PSF Scheme. Accordingly, the Company accrued and settled Aircraft fuel expenses at prevailing market prices in line with agreed contractual arrangements. 6. 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 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 Company's network and the interchangeability of use of assets 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 for the Company. In connection with the operational disruptions experienced during December 2025, the Company received an order from the Directorate General of Civil Aviation (DGCA) on 17 January 2026 to furnish bank guarantees amounting to Rs. 500 million for implementation of certain systematic reforms, which are subject to phased release linked to satisfactory outcome of the reforms by the Company. The bank guarantees in accordance with the DGCA order were furnished by the Company during the quarter ended 31 March 2026. Further, Competition Commission of India vide its order dated 4 February 2026, based on prima facie alleged violation of imposition of unfair conditions and limiting or restriction of provision of services by the Company, directed its Director General to undertake an investigation of the Company's domestic operations, following a passenger complaint relating to flight cancellations during December 2025. During the quarter ended 30 September 2026, pursuant to a ‘Commitment Application’ submitted by the Company in accordance with applicable laws, the Competition Commission of India vide its order dated 23 July 2026, kept the investigation in abeyance pending consideration of the Company’s proposed commitments. Based on management's assessment, no provision has been made as the outcome of the matter is awaited as on date. The Company remains committed to regulatory compliance, continues to monitor developments and will assess any further impact if needed. InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 The above unaudited standalone financial results for the quarter and half year ended 30 September 2026 of InterGlobe Aviation Limited (the "Company") were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their respective meetings held on 29 October 2026. The results have been subjected to a limited review by the Statutory Auditors of the Company pursuant to Regulation 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 issued an unmodified conclusion on the same. 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 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 not yet received assessment order for subsequent 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 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 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 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 the incentives 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 tax exposure will also impact carried forward losses having a tax effect of Rs. 18,227 million. During the quarter ended 30 September 2026, the Company has paid Integrated Goods and Services Tax (“IGST”) amounting to Rs. 1,068 million under protest, on re-import of repaired aircraft, aircraft engines and certain aircraft parts, to Customs authorities and therefore as at 30 September 2026, cumulative amount paid under protest is Rs. 24,000 million, against which appeals have been filed or to be filed before the appellate authorities. With respect to IGST paid on imports prior to 19 July 2021, the Company received three 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. The Hon’ble Supreme Court dismissed one of the departmental appeals on 14 July 2025, and subsequently dismissed department’s review petition on 17 February 2026. The remaining two departmental appeals are pending before the Hon’ble Supreme Court and no stay has been granted on CESTAT orders. 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 of goods 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’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 items repaired abroad is unconstitutional and invalid. On 29 August 2025, department filed an appeal against the said order before the Hon’ble Supreme Court, which is pending. 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 such re- import of repaired aircraft, aircraft engines and certain aircraft parts. Accordingly, the above amounts paid under protest till 30 September 2026 have been shown as recoverable.
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Notes: InterGlobe Aviation Limited CIN: L62100DL2004PLC129768 Regd. Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India Website: www.goindigo.in; e-mail: investors@goindigo.in; Tel: +91 9650098905; Fax: +91 11 4351 3200 7. 8. 9. (For and on behalf of the Board of Directors) Place : Gurugram Rahul Bhatia Date : 29 October 2026 Managing Director Earnings per share is not annualized for the quarter ended 30 September 2026, 30 June 2026 and 30 September 2025 and for the half year ended 30 September 2026 and 30 September 2025. In view of losses incurred during the current and previous period(s), the effect of dilutive potential equity shares is anti-dilutive and accordingly not considered in the calculation of diluted earnings per share. During the quarter ended 30 September 2026, the Nomination and Remuneration Committee approved grant of 115,500 performance stock options under the InterGlobe Aviation Limited Employees Stock Option Scheme – 2023 to certain eligible employee[s] of the Company. Further, 9,099 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. 3,867 million. During the quarter ended 30 September 2026, the following changes in the management took place: a) Mr. Gaurav Negi was re-designated and transitioned from Chief Financial Officer to the Advisor to the Managing Director, effective close of business hours on 27 July 2026. b) Mr. Kiran Thadimarri was appointed as the Chief Financial Officer (Key Managerial Personnel), effective 28 July 2026. c) Mr. William Matthew Walsh assumed charge as the Chief Executive Officer, effective 3 August 2026. Digitally signed by: Rahul Bhatia DN: CN = Rahul Bhatia C = IN O = Personal Date: 2026.10.29 15:22: 11 +05'30' Rahul Bhatia