InterGlobe Aviation shares give up early gains

Giving up early gains, shares of InterGlobe Aviation Tuesday closed almost flat on the bourses even as the company registered a five-fold jump in profit after tax in the March quarter.

InterGlobe Aviation, parent of the country's largest airline IndiGo, jumped over 3 per cent during intra-day trade on the stock exchanges. However, it could not sustain the gains.

On the BSE, the stock opened on a positive note at Rs 1,705 and jumped 3.18 per cent to Rs 1,716 apiece. However, it closed almost flat at Rs 1,659.10.

Similar trends were witnessed on the NSE where the scrip ended marginally lower at Rs 1,652.60. It had climbed 3.23 per cent to Rs 1,716 during the day.

On Monday, InterGlobe Aviation reported a five-fold jump in profit after tax to Rs 589.6 crore in the latest March quarter as higher passenger revenues and cancellation of Jet Airways flights helped boost its bottom line.

Shares of rival SpiceJet rose 2.09 per cent to close at Rs 148.80 on the BSE. It is not listed on the NSE.

Jet Airways, which is currently grounded, too ended in the positive territory at Rs 153.25 on the BSE. However, it closed marginally lower at Rs 151.30 on the NSE.