IndiGo parent InterGlobe Aviation's stock drops over 6% on muted Q4 result

Shares of IndiGo's parent InterGlobe aviation plunged over 6% after the company's net profit remained flat at Rs 579.31 crore in the three months ended March.

After opening on a weak note, the stock further slipped 6.42% to Rs 1,007.40 on BSE.

AT NSE, the shares of the company were trading 6.95% down at Rs 1,006.

Hit by higher expenses, InterGlobe Aviation on Friday saw its net profit remain flat at Rs 579.31 crore in the three months to March even as it flew more passengers during the period. The largest domestic airline by market share had posted a net profit of Rs 577.33 crore in the year-ago period.

Total income from operations stood at Rs 4,090.68 crore in the latest quarter compared with Rs 3,823.27 crore registered in the same period a year ago, the airline said in a release
on Friday.

Despite lower fuel costs, IndiGo witnessed its total expenses in the March quarter jump nearly 12% to Rs 3,409.86 crore. In the comparable period, the same was at Rs 3,049.79 crore.