IndiGo’s Q3 report card is due today, and all eyes are on how the airline weathered the turbulence of rising costs and softer yields. The buzz is that net profit might shrink 34% year-on-year to ₹1,974 crore, a notable dip from last year’s ₹2,998.1 crore. While that’s not ideal, revenue is projected to climb 6% YoY to ₹20,657 crore, with a stronger 22% bump compared to the September quarter, thanks to seasonally stronger travel demand. EBITDAR is expected to hold steady, inching up 1% YoY to ₹5,522 crore, buoyed by better operating leverage from a 12% YoY rise in available seat kilometers (ASKM) and cheaper fuel. But the pressure’s still there—yields are predicted to slip 4%, and passenger load factors might dip by 60 basis points YoY. The real drag comes from aircraft-related costs. Higher lease rentals, depreciation, and financing expenses are likely to weigh on the bottom line, offsetting gains elsewhere. Analysts like JM Finance are optimistic about sequential margin improvement, thanks to lower fuel prices and strong capacity growth, but YoY comparisons remain challenging. IndiGo’s stock, meanwhile, has had a mixed run—down 10% this January but boasting a hefty 42% gain over the past year. Shares rallied 3.22% yesterday to close at ₹4,138.10, hinting that investors may already be factoring in today’s expected results.