InterGlobe Aviation (INDIGO) Q4 24/25 earnings summary

Executive summary

• Achieved record total income of INR 841 billion for FY2025, up 18% year-over-year, surpassing $10 billion in revenues for the first time.

• Net profit for FY2025 was INR 72.6 billion, with a 9% margin; Q4 net profit was INR 30.7 billion, up 61.9% year-over-year.

• Served 118.6 million passengers in FY2025, an 11% increase year-over-year; Q4 saw 32 million passengers, up 20%.

• Expanded network with 3 new domestic and 7 new international destinations, and net addition of 67 aircraft in FY2025.

• Declared a final dividend of INR 10 per share, marking a return to dividends after five years, subject to shareholder approval.

Financial highlights

• Q4 FY2025 total income was INR 231 billion, with a net profit of INR 30.7 billion and a margin of 13.8%.

• EBITDA for FY2025 was INR 212.5 billion, up from INR 175.4 billion in FY2024.

• Revenue from operations for FY25 was INR 808,029 million, up from INR 689,043 million in FY24.

• Free cash at quarter-end was INR 188.3 billion, up 141.7% year-over-year; total debt including leases was INR 668 billion.

• Passenger revenue grew 15% to INR 697 billion, with capacity up 13%.

Outlook and guidance

• Capacity expected to grow by early double digits in FY2026; Q1 FY2026 capacity to rise by mid-teens year-over-year.

• April 2025 saw strong revenue and yields, but geopolitical disruptions led to increased cancellations; recent trends show stabilization and early recovery.

• Network expansion and fleet growth expected to support future capacity and revenue growth.

• Cost levels targeted to remain similar to FY2025, with damp lease costs expected to decline as grounded aircraft return.

• Board recommended a final dividend of INR 10 per share, with record date set for August 13, 2025.