IndiGo Parent InterGlobe Aviation Shares Surge on Q3 Earnings
Feb 05, 2024 17:08
InterGlobe Aviation, the parent company of IndiGo, saw its shares rise over 1% after reporting a more than doubled profit for the December quarter. The company's strong performance was driven by increased passenger traffic and higher capacity.
Photograph: Toby Melville/Reuters
New Delhi, Feb 5 (PTI) Shares of InterGlobe Aviation, the parent of IndiGo, ended over 1 per cent higher on Monday after the firm reported more than doubling of profit after tax to Rs 2,998.1 crore for the December quarter.
The stock trimmed most of their early gains and ended at Rs 3,171.70, up 1.43 per cent, on the BSE.
During the day, shares of the company jumped 5.57 per cent to Rs 3,301.40 -- its 52-week high.
At the NSE, it went up 1.40 per cent to settle at Rs 3,171. During the day, the stock climbed 5.52 per cent to Rs 3,300 -- its 52-week high.
In the equity market, the benchmark equity indices fell on fag-end selling. The 30-share BSE Sensex declined 354.21 points, or 0.49 per cent, to 71,731.42, and the Nifty dropped 82.10 points, or 0.38 per cent, to 21,771.70.
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 year-ago period.
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