After a solid Q1, IndiGo's troubles may mount in Q2FY24, warn analysts

IndiGo's profitability may be affected in the July to September quarter (Q2) of FY24 owing to lower fares in a seasonally weak quarter and higher fuel prices, analysts said

Despite the best-ever quarterly net profit of Rs 3,091 crore in the June quarter of financial year 2023-24 (Q1FY24), challenges are mounting for InterGlobe Aviation-run IndiGo in the near-term, analysts said on Thursday.

Given this, most brokerages have retained their rating, spanning across Buy to Underperform, and target price on the stock.

Motilal Oswal Financial Services, for instance, has retained its 'Neutral' rating on the scrip as it believes the low-cost airline is facing teething issues at present.

"Despite the positive