IndiGo soars 13% as Q4 earnings beat Street expectation
Shares of InterGlobe Aviation-run IndiGo airline surged as much as 12.6 per cent to Rs 1,064.95 on the BSE on Wednesday after the airline’ March quarter numbers beat Street expectations. Besides, analysts’ optimism around strong recovery by financial year 2021-22 fuelled buying rally in the stock.
At 10:38 am, the stock was trading at Rs 1,025.55, up 8.46 per cent on the BSE, as against 416 points, or 1.23 per cent, gain in the benchmark S&P BSE Sensex at 34,241 level. A combined 7.7 million shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.
The Gurgaon-based airline on Tuesday reported a net loss of Rs 870.8 crore, compared to a net profit of Rs 589.6 crore in the year-ago quarter (Q4FY19), and Rs 496 crore in the December quarter of FY20.
