InterGlobe Aviation’s (IndiGo) March quarter (Q4FY26) performance was hit by an enormous mark-to-market forex loss of ₹4,823 crore, mainly on aircraft lease liability. Ebitdar (earnings before interest, tax, depreciation and aircraft lease rent), excluding forex loss, declined by 6% year-on-year to nearly ₹6,400 crore, but some of it was anticipated as Q4FY25 had the benefit of increased passenger traffic from the Mahakumbh.
