Comments
Shares of InterGlobe Aviation, which runs largest domestic carrier IndiGo, plunged over 11 per cent to hit a one-year low as the company has reported 96.6 per cent fall in net profit for the June quarter.
After making a weak opening, the stock further slumped 11.26 per cent to Rs 891.10 - its 52-week low - on the BSE. On the NSE, the stock tanked 11.39 per cent to hit its one-year low of Rs 890.55.
InterGlobe Aviation had on Monday reported a steep 96.6 per cent fall in net profit at Rs 27.8 crore for the June quarter, owing to adverse impact of foreign exchange, high fuel prices, lower yields and higher maintenance cost.
The Gurugram-based budget carrier had posted a net profit of Rs 811.10 crore in the same quarter last year. However, sales from operations rose 13.2 per cent to Rs 651.20 crore, compared with Rs 575.29 crore in the year-ago period.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.