InterGlobe Aviation slips after delay in delivery of Airbus aircraft

InterGlobe Aviation lost 4.4% to Rs 1,092.50 at 14:27 IST on BSE after the company said it has received a notification from Airbus that the A320 neo aircraft which was to be delivered to the company on 30 December 2015, has been delayed.

The announcement was made on Saturday, 19 December 2015.

Meanwhile, the S&P BSE Sensex was up 219.09 points or 0.86% at 25,738.31.

On BSE, so far 3.04 lakh shares were traded in the counter as against average daily volume of 6.44 lakh shares in the past one quarter.

The stock hit a high of Rs 1,157.75 and a low of Rs 1,080 so far during the day. The stock had hit a 52-week low of Rs 848.10 on 10 November 2015. The stock had hit a record high of Rs 1,234 on 16 December 2015.

The large-cap company has equity equity capital of Rs 360.36 crore. Face value per share is Rs 10.

InterGlobe Aviation said it has received an official notification from Airbus on 17 December 2015 that the A320 neo aircraft which was to be delivered to the company on 30 December 2015, has been delayed due to industrial reasons. At this time the company does not have clear visibility of its future A320 neo delivery schedule and the potential for additional delays exist, InterGlobe Aviation said. The company said it is looking at mitigating the potential shortfall in capacity through other options.

InterGlobe Aviation reported net profit of Rs 640.43 crore on revenue from operations of Rs 4211.54 crore in Q1 June 2015. Net profit stood at Rs 1295.58 crore on revenue from operations of Rs 13925.33 crore for the year ended 31 March 2015 (FY 2015).

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

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