InterGlobe Aviation shares rally over 9 per cent on Q3 profit

Shares of InterGlobe Aviation, the parent of IndiGo, zoomed over 9 per cent after the firm posted a profit after tax of Rs 129.8 crore in the three months ended December 2021.

The stock jumped 9.46 per cent to Rs 2,161.10 on the BSE. It zoomed 9.14 per cent to Rs 2,154.95 on the NSE.

Fuelled by higher passenger revenues, the country’s largest airline IndiGo on Friday posted a profit after tax of Rs 129.8 crore in the three months ended December 2021 amid the pandemic clouds. InterGlobe Aviation, the parent of IndiGo, had slipped into a loss of Rs 620.1 crore in the year-ago period.

In a significant development, the company has appointed its co-founder Rahul Bhatia as Managing Director with immediate effect and he would oversee all aspects of the airline.

Reflecting signs of slow recovery in the pandemic-hit airline industry, IndiGo’s revenue from operations jumped to Rs 9,294.8 crore in the latest December quarter compared to Rs 4,910 crore in the same period a year ago.

Total income surged 84.3 per cent on an annual basis to Rs 9,480.1 crore in the third quarter of the current fiscal year. “For the quarter, our passenger ticket revenues were Rs 80,731 million, an increase of 98.4 per cent and ancillary revenues were Rs 11,417 million, an increase of 41.3 per cent compared to the same period last year,” it said in a statement.