InterGlobe Aviation shares dive nearly 5 pc on flat Q4

Shares of IndiGo's parent InterGlobe Aviation ended the day with nearly 5 per cent loss after the company's net profit remained flat at Rs 579.3 crore in the March quarter.
The stock declined 4.51 per cent to end at Rs 1,023.80 on BSE. During the day, it plunged 6.57 per cent to Rs 1,001.65.
On NSE, it fell 4.7 per cent to close at Rs 1,025.30.
On the volume front, 2 lakh shares of the company were traded on BSE during the day while over 12 lakh changed hands on NSE.
"Shares of Interglobe Aviation corrected by 6.87 per cent intra-day on NSE after the airline reported under-expected growth for the fourth quarter of FY16," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio.

Hit by higher expenses, IndiGo's parent InterGlobe Aviation on Friday saw its net profit remain flat at Rs 579.3 crore in the three months to March.
The largest domestic airline by market share had posted a net profit of Rs 577.3 crore in the year-ago period.
IndiGo said its total income from operations stood at Rs 4,090.7 crore in the latest quarter compared with Rs 3,823.3 crore in the fourth quarter of 2014-15.