Interglobe Aviation, operator of IndiGo, rises to 52-week high on highest-ever quarterly profit
BT Online August 1, 2017
Shares of Interglobe Aviation Limited, the operator of private carrier IndiGo, surged in early trade after the parent firm reported its highest-ever quarterly profit on Monday.
The domestic carrier's net profit rose to Rs 811 crore for the April-June quarter of 2017-18, up 37.1 per cent year-on-year.
At 10:16 am, the stock was trading 0.73 percent or 10 points higher at Rs 1,299 level.
The stock earlier rose up to 2 percent to hit a 52 week high of 1334 level on record Q1 net profit.
It closed 0.14 percent or 1.80 points lower at 1288.95 level on the BSE.
The New Delhi-based carrier's revenue zoomed 25.6 per cent to Rs 5,955 crore, driven by higher passenger earnings.
The carrier, which enjoys over 40 per cent market share, said its passenger revenue grew 5.5 per cent and higher load factor grew 4.7 per cent pushing up the overall yields by 200 bps. The airline attributed the good set of numbers to overall improvement in all key operational metrics, including overhead cost, which declined by 2.5 per cent.
The carrier ended the quarter with a fleet of 135 aircraft, including 22 A320 Neos. It operates 937 daily flights to 46 cities.