IndiGo Parent InterGlobe Aviation Q3 Profit Soars
Feb 05, 2024 11:48
InterGlobe Aviation, the parent company of IndiGo, reported a more than doubled profit after tax for the December 2023 quarter, leading to a surge in share prices.
Photograph: Toby Melville/Reuters
New Delhi, Feb 5 (PTI) Shares of InterGlobe Aviation, the parent of IndiGo, climbed nearly 6 per cent on Monday after the firm reported more than doubling of profit after tax to Rs 2,998.1 crore for December 2023 quarter.
The stock jumped 5.57 per cent to Rs 3,301.40 -- its 52-week high -- on the BSE.
At the NSE, it climbed 5.52 per cent to Rs 3,300 -- its 52-week high.
Helped by higher capacity and increased passenger traffic, InterGlobe Aviation saw its profit after tax jump in the third quarter of the current fiscal from Rs 1,422.6 crore in the year-ago period.
Excluding foreign exchange loss, the company's profit stood at Rs 3,049.1 crore in the quarter as compared to Rs 2,009.1 crore in the same period a year ago, according to a release on Friday.
Total income rose to Rs 20,062.3 crore from Rs 15,410.2 crore in the same period a year ago.
"For the third quarter of financial year 2024, we reported a profit after tax of 30 billion rupees with a profit after tax margin of 15.4 per cent. With these five consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again," IndiGo CEO Pieter Elbers said.
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