InterGlobe Aviation Limited — Interim / Quarterly Report 2025

Jul 26, 2024

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July 26, 2024

IGAL/SECT/7-24/11

To To National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Tower Bandra Kurla Complex Dalal Street Bandra – (E) Mumbai – 400 001 Mumbai – 400 051 Symbol: INDIGO Scrip Code: 539448

Subject: Compliances under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir / Madam,

The Board of Directors of the Company in its meeting held on Friday, July 26, 2024, inter-alia , considered and approved the unaudited standalone and consolidated financial results (“Financial Results”) for the quarter ended June 30, 2024.

In this regard, please find enclosed:

i. Unaudited Financial Results along with the Limited Review Reports thereon issued by the Statutory Auditors M/s. S.R. Batliboi & Co. LLP, Chartered Accountants.

ii. Copies of investor presentation and press release.

The Board meeting commenced at 01:15 p.m. (IST) and concluded at 03:06 p.m. (IST).

The above is for your information and record.

Thanking you,

For InterGlobe Aviation Limited

NEERJA Digitally signed by NEERJA SHARMA SHARMA Date: 2024.07.26 15:11:03 +05'30'

Neerja Sharma Company Secretary and Chief Compliance Officer

Encl: As above

InterGlobe Aviation Limited

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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-122022, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768

67, Institutional Area Sector 44, Gurugram - 122 003 Haryana, India

Tel: +91 124 681 6000

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Independent Auditor’s Review Report on the Quarterly 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”) and its subsidiaries, (the Holding Company and its subsidiaries together referred to as “the Group”), for the quarter ended June 30, 2024 (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 the Standard 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.

1. The Statement includes the results of the following entities: Agile Airport Services Private Limited and InterGlobe Aviation Financial Services IFSC Private Limited.

2. 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

Sanjay Vij

Digitally signed by Sanjay Vij DN: cn=Sanjay Vij, c=IN, o=Personal, email=sanjay.vij@srb.in Date: 2024.07.26 15:18:27 +05'30'

per Sanjay Vij Partner Membership No.: 095169 UDIN:24095169BKFNEH8814

Place of Signature: Gurugram Date: July 26, 2024

S.R. Batliboi & Co LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294 Regd. Of fi ce : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016

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 consolidated financial results for the quarter ended 30 June 2024	Statement of unaudited consolidated financial results for the quarter ended 30 June 2024	Statement of unaudited consolidated financial results for the quarter ended 30 June 2024	Statement of unaudited consolidated financial results for the quarter ended 30 June 2024
				(Rupees		in millions, except for share data and if otherwise stated)
S.	Particulars					Quarter ended			Year ended
No.				30 June		31 March	30 June		31 March
				2024		2024	2023		2024
			(Unaudited)			(Audited)	(Unaudited)		(Audited)
						Refer Note 1
1.	Income
	a. Revenue from operations			195,707		178,253	166,831		689,043
	b. Other income				6,782	6,798		4,778	23,269
	Total income			202,489		185,051	171,609		712,312
2.	Expenses
	a. Aircraft fuel expenses			64,165		59,791	52,281		239,046
	b. Aircraft and engine rentals				6,241	3,860		1,946	10,752
	c. Supplementary rentals and aircraft repair and maintenance (net)			26,033		27,587	24,251		99,316
	d. Airport fees and charges			12,861		11,863	12,195		46,239
	e. Purchase of stock-in-trade (In-flight)				837	868		722	3,369
	f. Changes in inventories of stock-in-trade				19	2		25	54
	g. Employee benefits expense			17,572		17,987	14,498		64,618
	h. Finance costs			11,576		10,991		9,537	41,694
	i. Depreciation and amortisation expenses			18,758		18,033	14,078		64,257
	j. Foreign exchange (gain) / loss (net)				575	1,654	(1,161)		7,174
	k. Other expenses			15,812		14,705	12,330		55,300
	Total expenses			174,449		167,341	140,702		631,819
3.	Profit from operations before exceptional items and tax (1-2)			28,040		17,710	30,907		80,493
4.	Exceptional items				-	-		-	-
5.	Profit before tax (3+4)			28,040		17,710	30,907		80,493
6.	Tax expense
	a. Current tax				752	4		1	10
	b. Deferred tax (credit) / charge				-	(1,242)		-	(1,242)
	Total tax (credit) / expense				752	(1,238)		1	(1,232)
7.	Profit for the period / year (5-6)			27,288		18,948	30,906		81,725
8.	Other comprehensive income
	a. Items that will not be reclassified to profit or loss
	- Remeasurements of defined benefit plans (net of tax)				60	(20)		(20)	(152)
	b. Items that will be reclassified to profit or loss
	- Debt instruments through other comprehensive income (net of tax)				11	17		6	6
	Other comprehensive income / (loss) for the period / year, net of tax				71	(3)		(14)	(146)
9.	Total comprehensive income for the period / year (7+8)			27,359		18,945	30,892		81,579
**10. **	Profit for the period / year attributable to
	- Owners of the Company			27,288		18,948	30,906		81,725
	- Non-controlling interest				-	-		-	-
11.	Other comprehensive income / (loss) for the period / year attributable to
	- Owners of the Company				71	(3)		(14)	(146)
	- Non-controlling interest				-	-		-	-
12.	Total comprehensive income for the period / year attributable to
	- Owners of the Company			27,359		18,945	30,892		81,579
	- Non-controlling interest				-	-		-	-
13.	Paid-up equity share capital (face value of Rs. 10 each, fully paid)				3,860	3,860		3,855	3,860
14.	Reserves excluding revaluation reserves as per balance sheet								16,105
15.	Earnings Per Share (of Rs. 10 each) (Refer to Note 8):
	a. Basic (Rs.)				70.70	49.09		80.16	211.84
	b. Diluted (Rs.)				70.57	49.03		80.03	211.61
	See accompanying notes to the unaudited consolidated 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

Notes:

1.	The above unaudited consolidated financial results for the quarter ended 30 June 2024 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 26 July 2024. The results have been subjected to a limited review by the Statutory Auditors of the
	Company and its subsidiaries (namely 'Agile Airport Services Private Limited' and 'InterGlobe Aviation Financial Services IFSC Private Limited') [the Company and its subsidiaries
	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 ("SEBI LODR Regulations"), who have issued an unmodified conclusion on the same. The figures for the quarter ended 31 March 2024 are the balancing figures between the
	audited figures in respect of the previous full financial year and the published unaudited year to date figures upto the end of the third quarter of the previous financial year, which had been
	subjected to a limited review.
2.	The income tax authority has assessed the return of income of the Group 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 Group 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.
3.	During the quarter ended 30 June 2024, the Group has paid Integrated Goods and Services Tax (“IGST”) amounting to Rs. 802 million under protest, on re-import of repaired aircraft,
	aircraft engines and other certain aircraft parts, to Custom authorities and therefore as at 30 June 2024, cumulative amount paid under protest is Rs. 16,470 million, against which appeals
	have been filed or to be filed before the Appellate authorities. In past, the Group had received favourable orders on this matter from the Customs Excise and Service Tax Appellate Tribunal
	(“CESTAT”), New Delhi. However, the Customs authorities filed an appeal before the Hon’ble Supreme Court of India against the above-mentioned CESTAT orders. The matter is yet to
	be decided by the Supreme Court and no stay on CESTAT orders has been granted by the Supreme Court till date. Further, the Custom authorities vide Customs amendment Notification
	dated 19 July 2021 (“Amendment Notification”) has amended earlier Customs exemption Notification to reiterate their position that IGST is applicable on re-import of goods after repair.
	Based on the advice received from the legal counsels, we continue to believe that, IGST is still not payable on such re-import of repaired aircraft, aircraft engines and other certain aircraft
	parts even after the above-mentioned Amendment Notification. The Group had filed a Writ Petition before the Hon’ble High Court of Delhi challenging the constitutional validity of the
	Amendment Notification. The matter is pending for disposal before the Hon’ble High Court of Delhi. Accordingly, the above amounts paid under protest till 30 June 2024 have been shown
	as recoverable.
4.	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.

1. During the current quarter, the Company has finalized an amendment to existing agreement with International Aero Engines, LLC ("IAE"), an affiliate of Pratt & Whitney pursuant to which IAE will provide the Company with a customized compensation plan to mitigate the impact of the ongoing situation of Aircraft on Ground due to unavailability of engines. Consequently, Revenue from operations for the quarter ended 30 June 2024 includes compensation accrued by the Company for the current and previous quarters. Further, for the quarter ended 30 June 2024 certain reimbursements have also been netted off against expenditure.

2. During the quarter ended 30 June 2024, the Nomination and Remuneration Committee approved grant of 40,000 stock options under the InterGlobe Aviation Limited - Employees Stock Option Scheme 2015 and 189,980 performance stock options under the InterGlobe Aviation Limited Employees Stock Option Scheme – 2023 to certain eligible employee[s] of the Company. Further 1,000 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited Employees Stock Option Scheme - 2015. Consequently, the issued and paid-up share capital of the Company as on 30 June 2024 stands increased to Rs. 3,860 million.

3. Post closure of the quarter ended 30 June 2024, 188,250 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited - Employees Stock Option Scheme 2015. Consequently, the issued and paid-up share capital of the Company stands increased to Rs. 3,862 million.

4. Earnings per share is not annualized for the quarter ended 30 June 2024, 31 March 2024 and 30 June 2023.

(For and on behalf of the Board of Directors) RAHUL Digitally signed by RAHUL BHATIA BHATIA Date: 2024.07.26 15:10:31 +05'30' Place : Gurugram Rahul Bhatia Date : 26 July 2024 Managing Director

67, Institutional Area Sector 44, Gurugram - 122 003 Haryana, India Tel: +91 124 681 6000

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Independent Auditor’s Review Report on the Quarterly 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 June 30, 2024 (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 the Standard 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

Sanjay Vij

Digitally signed by Sanjay Vij DN: cn=Sanjay Vij, c=IN, o=Personal, email=sanjay.vij@srb.in Date: 2024.07.26 15:18:59 +05'30'

per Sanjay Vij Partner Membership No.: 095169 UDIN:24095169BKFNEG9560

Place of Signature: Gurugram Date: July 26, 2024

S.R. Batliboi & Co LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294 Regd. Of fi ce : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016

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 ended 30 June 2024

1. Income a. Revenue from operations b. Other income Total income 2. Expenses a. Aircraft fuel expenses b. Aircraft and engine rentals c. Supplementary rentals and aircraft repair and maintenance (net) d. Airport fees and charges e. Purchase of stock-in-trade (In-flight) f. Changes in inventories of stock-in-trade g. Employee benefits expense h. Finance costs i. Depreciation and amortisation expenses j. Foreign exchange (gain) / loss (net) k. Other expenses Total expenses 3. 4. 5. 6. a. Current tax b. Deferred tax (credit) / charge 7. 8. a. Items that will not be reclassified to profit or loss - Remeasurements of defined benefit plans (net of tax) b. Items that will be reclassified to profit or loss - Debt instruments through other comprehensive income (net of tax) 9. 10. 11. 12. a. Basic (Rs.) b. Diluted (Rs.) Other comprehensive income Profit from operations before exceptional items and tax (1-2) Exceptional items Profit before tax (3+4) Tax expense Total tax (credit) / expense Profit for the period / year (5-6) S. No. Particulars Reserves excluding revaluation reserves as per balance sheet Earnings Per Share (of Rs. 10 each) (Refer to Note 8): See accompanying notes to the unaudited standalone financial results Other comprehensive income / (loss) for the period / year, net of tax Total comprehensive income for the period / year (7+8) Paid-up equity share capital (face value of Rs. 10 each, fully paid)

Year ended 30 June 2024 31 March 2024 30 June 2023 31 March 2024 (Unaudited) (Audited) Refer Note 1 (Unaudited) (Audited) 195,707 178,253 166,831 689,043 6,797 6,800 4,774 23,256 202,504 185,053 171,605 712,299 64,165 59,791 52,281 239,046 6,241 3,860 1,946 10,752 26,033 27,587 24,251 99,316 12,861 11,863 12,195 46,239 837 868 722 3,369 19 2 25 54 15,859 16,176 13,140 58,377 11,576 10,991 9,537 41,694 18,665 17,955 14,043 64,056 575 1,654 (1,161) 7,174 17,656 16,610 13,754 61,790 174,487 167,357 140,733 631,867 28,017 17,696 30,872 80,432 - - - - 28,017 17,696 30,872 80,432 750 - - - - (1,243) - (1,243) 750 (1,243) - (1,243) 27,267 18,939 30,872 81,675 65 (19) (53) (181) 11 17 6 6 76 (2) (47) (175) 27,343 18,937 30,825 81,500 3,860 3,860 3,855 3,860 15,459 70.64 49.07 80.07 211.71 70.51 49.00 79.94 211.48 (Rupees in millions, except for share data and if otherwise stated) Quarter ended

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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
Notes:
1. The above unaudited standalone financial results for the quarter ended 30 June 2024 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 26 July 2024. 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 ("SEBI LODR Regulations"), who have issued an unmodified conclusion on the same. The figures
for the quarter ended 31 March 2024 are the balancing figures between the audited figures in respect of the previous full financial year and the published
unaudited year to date figures upto the end of the third quarter of the previous financial year, which had been subjected to a limited review.
2. 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.
3. During the quarter ended 30 June 2024, the Company has paid Integrated Goods and Services Tax (“IGST”) amounting to Rs. 802 million under protest, on
re-import of repaired aircraft, aircraft engines and other certain aircraft parts, to Custom authorities and therefore as at 30 June 2024, cumulative amount paid
under protest is Rs. 16,470 million, against which appeals have been filed or to be filed before the Appellate authorities. In past, the Company had received
favourable orders on this matter from the Customs Excise and Service Tax Appellate Tribunal (“CESTAT”), New Delhi. However, the Customs authorities
filed an appeal before the Hon’ble Supreme Court of India against the above-mentioned CESTAT orders. The matter is yet to be decided by the Supreme
Court and no stay on CESTAT orders has been granted by the Supreme Court till date. Further, the Custom authorities vide Customs amendment Notification
dated 19 July 2021 (“Amendment Notification”) has amended earlier Customs exemption Notification to reiterate their position that IGST is applicable on re-
import of goods after repair. Based on the advice received from the legal counsels, we continue to believe that, IGST is still not payable on such re-import of
repaired aircraft, aircraft engines and other certain aircraft parts even after the above-mentioned Amendment Notification. The Company had filed a Writ
Petition before the Hon’ble High Court of Delhi challenging the constitutional validity of the Amendment Notification. The matter is pending for disposal
before the Hon’ble High Court of Delhi. Accordingly, the above amounts paid under protest till 30 June 2024 have been shown as recoverable.
4. 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.
5. During the current quarter, the Company has finalized an amendment to existing agreement with International Aero Engines, LLC ("IAE"), an affiliate of
Pratt & Whitney pursuant to which IAE will provide the Company with a customized compensation plan to mitigate the impact of the ongoing situation of
Aircraft on Ground due to unavailability of engines. Consequently, Revenue from operations for the quarter ended 30 June 2024 includes compensation
accrued by the Company for the current and previous quarters. Further, for the quarter ended 30 June 2024 certain reimbursements have also been netted off
against expenditure.
6. During the quarter ended 30 June 2024, the Nomination and Remuneration Committee approved grant of 40,000 stock options under the InterGlobe Aviation
Limited - Employees Stock Option Scheme 2015 and 189,980 performance stock options under the InterGlobe Aviation Limited Employees Stock Option
Scheme – 2023 to certain eligible employee[s] of the Company. Further 1,000 equity shares of Rs. 10 each were issued and allotted under the InterGlobe
Aviation Limited Employees Stock Option Scheme - 2015. Consequently, the issued and paid-up share capital of the Company as on 30 June 2024 stands
increased to Rs. 3,860 million.
7. Post closure of the quarter ended 30 June 2024, 188,250 equity shares of Rs. 10 each were issued and allotted under the InterGlobe Aviation Limited -
Employees Stock Option Scheme 2015. Consequently, the issued and paid-up share capital of the Company stands increased to Rs. 3,862 million.
8. Earnings per share is not annualized for the quarter ended 30 June 2024, 31 March 2024 and 30 June 2023.
(For and on behalf of the Board of Directors)
RAHUL Digitally signed by RAHUL BHATIA
BHATIA Date: 2024.07.26 15:09:53 +05'30'
Place : Gurugram Rahul Bhatia
Date : 26 July 2024 Managing Director
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