IndiGo shares decline nearly 5% after record first quarter showing

InterGlobe Aviation (IndiGo) share price fell 4.65 per cent on the BSE on Thursday, a day after the company reported record quarterly profit for the first quarter of the ongoing financial year (Q1FY24). 

The stock of the airliner opened at ₹2,630 apiece against the previous close of Rs 2,565.75 but soon fell 5.3 per cent during intraday trade hit Rs 2,430.15. The stock had hit its 52-week high of Rs 2,745.95 on July 13 after hitting a 52-week low of ₹1,676 on November 9 last year.

The airline company declared its results on Wednesday where its net profit rose to Rs 3,090.6 crore in in Q1FY24 from a loss of Rs 1,064.3 crore. Total income rose by 32 per cent to Rs 17,161 crore from Q1FY23. Total expenditure fell by 0.1 per cent to Rs 14,070 crore from a year earlier. Agencies