IndiGo slips on lacklustre fourth quarter results

It posted a flat net profit of Rs 579 crore on rupee depreciation and pressure on yields owing to rising competition

Shares of InterGlobe Aviation have cracked 4% to Rs 1,029 after the budget carrier posted a flat net profit of Rs 579 crore the fourth quarter on the back of rupee depreciation and pressure on yields owing to rising competition. The airline in the same quarter last year the airline had recorded a net profit of Rs 577 crore.

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However, the passenger revenue for this quarter increased 6.8% at Rs 4,060 crore as the airline carried 24% more passengers on a year-on-year basis and improved its load factor by 2.3% to 85.1%.

Also, the airline benefited from a 23% drop in jet fuel price and its fuel bill declined 14.7% to Rs 1,023 crore. Its earnings before interest, tax, depreciation, amortisation, and rentals was up 10.8% at Rs 1,548 crore, with a margin of 37.8%.

As a relief to the investors, IndiGo recommended a final dividend of Rs 15 per share.

The stock opened at Rs 1,030 and touched a low of Rs 1,007 on the BSE. A total of 78,187 shares changed hands on the BSE so far.