InterGlobe Aviation shares up nearly 4% after June qtr results

Shares of InterGlobe Aviation rose nearly 4 per cent on Monday after the company posted its highest ever quarterly profit of Rs 1,203.14 crore for the three months ended June.

The scrip gained 3.74 per cent to close at Rs 1,518.15 on the BSE. During the day, it jumped 4.55 per cent to Rs 1,530.

At the NSE, shares of the company rose 3.42 per cent to close at Rs 1,513.

In terms of traded volume, 4.55 lakh shares of the company were traded on the BSE and over 78 lakh shares on the NSE during the day.

Fuelled by higher passenger revenues, InterGlobe Aviation Friday posted its highest ever quarterly profit of Rs 1,203.14 crore for the three months ended June and asserted that co-promoters are on the same page on growth strategy.

The announcement of the good quarterly results came amid ongoing feud between co-promoters Rakesh Gangwal and Rahul Bhatia over alleged corporate governance lapses.

It had a profit after tax of Rs 27.79 crore in the year-ago period. The profit in June 2019 quarter has increased more than 43 times, according to a regulatory filing.

Total income climbed to Rs 9,786.94 crore for the June quarter from Rs 8,259.69 crore in the same period a year ago, the filing said.

Its revenue from operations jumped nearly 45 per cent to Rs 9,420 crore.