Shares of IndiGo parent InterGlobe Aviation rise 3% after company posted a five-fold jump in Q4 profit
IndiGo posted a five-fold jump in profit after tax to Rs 589.6 crore for March quarter
The company had posted a profit of Rs 117.6 crore in the corresponding period of 2017-18
InterGlobe Aviation on Monday said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 percent less than Rs 2,242.4 crore for the 2017-18 fiscal
New Delhi: Shares of InterGlobe Aviation, the parent company of IndiGo airline, rallied over 3 percent in early trade Tuesday, a day after the company posted a five-fold jump in profit after tax to Rs 589.6 crore for March quarter.
The company had posted a profit of Rs 117.6 crore in the corresponding period of 2017-18.
On the BSE, the stock opened on a positive note at Rs 1,705 and jumped 3.18 percent to Rs 1,716 over its previous close.
The scrip opened at Rs 1,698 and further rose 3.23 percent to Rs 1,716 on the NSE.
InterGlobe Aviation on Monday said that its annual net profit for 2018-19 stood at Rs 156.1 crore, which was 93 percent less than Rs 2,242.4 crore for the 2017-18 fiscal.
IndiGo CEO Ronojoy Dutta said, "Fiscal 2019 was a tough year for the airline industry in India because of high fuel prices, weak rupee and intense competitive environment."
"However, it is a tale of two halves for IndiGo, with the first half of the year incurring losses and the second half of the year experiencing a sharp recovery," he added.
InterGlobe Aviation on Friday said a meeting of shareholders will be convened on January 29 to seek approval for certain changes in the company's articles of association
IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by the collapse of Jet Airways, once India’s largest carrier, and gain control of its valuable slots.
IndiGo seeks employees support amid biggest quarterly loss; CEO says will have to deal with weakening revenue environment going forward
Budget carrier IndiGo on Tuesday sought the "support" of its employees following its biggest quarterly loss in the September quarter, saying that it will have to deal with the "weakening" revenue environment going forward