IndiGo's profits hit turbulence 🥵

🗓️ Morning, folks and Happy Fridayyyyy! ☀️

Markets finally caught a breather on Thursday.

Sensex and Nifty snapped a three-day losing streak, closing 0.5% higher as broad-based buying returned across sectors.

The mood improved through the session, with investors stepping back into risk after recent weakness.

Sector-wise, it was a fairly clean sweep. Financials, metals, energy, and IT led the rebound, helping lift the benchmarks.

💡 Spotlight: India-US trade talks getting stronger 💪

US President Donald Trump said the India-US trade deal is on track, despite rising tariff tensions and tough negotiations.

Speaking at Davos 2026, Trump said the two countries are “going to have a good deal” and praised PM Narendra Modi as a close friend and respected global leader.

Trade talks between India and the US have been tense in recent months, with disagreements over tariffs and broader geopolitical pressure weighing on negotiations.

Let’s hit it!

1 Big Thing: IndiGo takes off on revenue, lands on profit 👎🏻

IndiGo reported its Q3 numbers, and it was a rough landing.

Revenue kept climbing, but profits fell sharply after a quarter packed with disruptions.

The key numbers:

Net profit: down 77.5% YoY to ₹550 crore vs ₹2,448 crore
Revenue: up 6.2% YoY to ₹23,471 crore vs ₹22,110 crore

What went wrong: IndiGo said profits were hit by higher costs from new labour codes and a major operational disruption in December 2025.

Operationally, the airline said capacity rose 11.2% YoY, while passengers increased 2.8% YoY in Q3 FY26.

Despite the turbulence, management struck an optimistic tone. IndiGo flew nearly 32 million passengers this quarter and about 124 million in calendar year 2025, saying demand remains strong and the focus is now firmly back on reliability and customer experience.

More on earnings, 💸

Waaree Energies had a blowout quarter, with profits more than doubling as solar demand surged and project execution picked up pace. The stock went up 9% on the back of the results.

By the numbers:

Revenue up 118% YoY at ₹7,565 crore
Net profit up 125% YoY at ₹1,107 crore
EBITDA margin at 25.5%

The how: the company’s strong quarter was driven by a sharp jump in solar module production and faster execution of EPC projects.

Higher volumes, better capacity utilisation, and improved pricing lifted revenues, while operating leverage kicked in, pushing margins higher.

At the same time, a swelling order book and secured agreements gave the company visibility to scale, helping Waaree convert demand into profits efficiently.

2. Data centre bet grows stronger 💸

L&T’s digital infrastructure arm, Larsen & Toubro Vyoma, is doubling down on data centres.

What’s brewing: it has started construction on a 40 MW green, AI-ready data centre in Mahape, Navi Mumbai, which will be part of a 100 MW campus.

This is just one piece of a larger plan to scale to 200 MW-plus of data centre capacity across India.

Its strategy is three-fold: create large, cloud-ready campuses for global players, build AI-focused infrastructure that can meet sovereign cloud needs, and offer server space on rent or customised facilities for clients.

The expansion roadmap targets major hubs like Mumbai, Chennai, Bengaluru, and Hyderabad. With this, the company is targeting a 10% share of India’s data centre market by 2030.

3. What’s brewing on Venture Street? 💰

Travel products brand Escape Plan raised $25 million in a Series A round led by Jungle Ventures, with IndiGo Ventures also coming on board.

Escape Plan builds luggage, accessories, and mobility products for the modern Indian traveller. It sells through its own D2C platform, online marketplaces, and a fast-growing offline retail network.

This comes at a time when demand for organised, branded travel gear is rising fast with air travel and leisure trips bouncing back. The funding gives the company a chance to compete harder with D2C rivals like Mokobara, Nasher Miles, Uppercase, and Acefour.

While we are on fundraises, 💰

Chip design startup Sensesemi Technologies raised ₹25 crore in a seed funding round led by Piper Serica.

Sensesemi is a government-approved chip design startup that builds smart chips for factories, vehicles, and medical devices.

Why it matters: power efficiency is the biggest bottleneck in edge AI. By combining AI, connectivity, and analog processing on a single chip, Sensesemi is positioning itself as a low-power alternative to global players like Netrasemi, Edgecortix, and Blumind.

4. India dominates global milk supply 🥛

India is the largest milk producer globally with annual production of over 230 million metric tonnes.

The nation is far ahead of the EU, US, and China. In fact, India alone produces more milk than the next two producers combined, making it the single most important pillar of global dairy supply.

1. CESC arm inks renewable energy deal with UP ☀️

CESC’s subsidiary CESC Green Power, has signed a deal with the Uttar Pradesh Government to develop renewable energy infrastructure in the state, involving an investment of about ₹3,800 crore.

CESC (Calcutta Electric Supply Corporation), is a private power utility that generates, transmits, and distributes electricity, serving 4.7+ million consumers across Kolkata, parts of West Bengal, Rajasthan, and Greater Noida.

The deets: the company will set up a 3 GW solar cell and module manufacturing plant, a 60 MW solar power project, along with ancillary units and an R&D lab.

What this means on the ground:

3 GW capacity can supply solar modules for millions of Indian homes.
60 MW solar plant can power a mid-sized Indian town
Strengthens domestic manufacturing, clean energy supply, and innovation

What else are we snackin’ 🍿

✈️ Heavy turbulence: Air India is staring at a record ₹15,000 crore loss after its deadly crash, worsened by Pakistan’s airspace closure that hit earnings further.

🤖 Mega raise: OpenAI CEO Sam Altman is in talks with Middle East investors to raise $50 billion or more at a valuation of up to $830 billion.

💊 Cancer breakthrough: Zydus launched Tishtha, the world’s first Nivolumab biosimilar in India, sharply cutting cancer treatment costs and widening access to immunotherapy.

🚗 Luxury push: Uber plans to double its Uber Black fleet in India by 2026, expanding premium rides with airport zones and advance booking in major cities.

And that’s a wrap. Pour yourself an extra one this weekend.

Markets are closed on Monday for Republic Day 🇮🇳, we’ll be back like clockwork on Tuesday.

Hit that 💚 if you liked this issue.