InterGlobe Aviation shares settle marginally lower

Shares of InterGlobe Aviation ended marginally lower on Friday amid profit-taking at the counter.InterGlobe Aviation had climbed nearly 2 per cent in morning trade after the company flew into the profitability zone, raking in a net profit of Rs 919.2 crore in the March quarter.The stock of the parent of the countrys largest airline IndiGo failed to hold on to the morning gains and ended at Rs 2,264.35 apiece, registering a marginal decline of 0.03 per cent on the BSE.

Shares of InterGlobe Aviation ended marginally lower on Friday amid profit-taking at the counter.

InterGlobe Aviation had climbed nearly 2 per cent in morning trade after the company flew into the profitability zone, raking in a net profit of Rs 919.2 crore in the March quarter.

The stock of the parent of the country's largest airline IndiGo failed to hold on to the morning gains and ended at Rs 2,264.35 apiece, registering a marginal decline of 0.03 per cent on the BSE. During the day, it went up by 1.90 per cent to Rs 2,308.

On the NSE, it skidded 0.31 per cent to finish at Rs 2,257.45 per share. In intra-day, it climbed 1.66 per cent to Rs 2,302.45.

Fuelled by robust market demand and higher revenues, InterGlobe Aviation on Thursday flew into the profitability zone, raking in a net profit of Rs 919.2 crore in the March quarter.

InterGlobe Aviation, which had faced turbulence last year, had a net loss of Rs 1,681.8 crore in the three months ended March 2022.

IndiGo said it is adding 5,000 people to its workforce and looking to add 45-50 aircraft this fiscal and that it continues to deal with supply-chain issues and work on mitigating measures.

The airline has reported its ''best-ever fourth-quarter net profit of Rs 9,192 million for the quarter ended March 2023''. Excluding the foreign exchange gain of Rs 252.8 crore, the net profit aggregated to Rs 666.4 crore, according to a release.

Total income surged nearly 78 per cent to Rs 14,600.1 crore in the fourth quarter of the last fiscal. In the same period a year ago, total income was Rs 8,207.5 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)