New Delhi: Ltd is the parent company of the low cost airline in India, IndiGo. The IndiGo share price closed at Rs 4,322 on July 5, 2024. The airline stock has given excellent returns to its shareholders in the last one year. The counter jumped over 46 per cent and rallied over 62 per cent returns in the last one year.
Meanwhile, brokerage firms UBS and Kotak Institutional Equities have given a Buy rating on IndiGo stock. The firms anticipate the Interglobe Aviation price to rise around 35 per cent as the company is in the expansion mode.
UBS has high hopes from the India’s air travel and anticipates a double-digit growth in the sector by FY30E. The demand for air travel is projected to register 11-17 per cent CAGR between FY24-30E.
UBS said that IndiGo share price has the potential to appreciate to the level of Rs 5,400, while Kotal has set the target price at Rs 5,700. The airline is expected to substantially increase its planes in the international travel market after getting the delivery of Airbus A321 XLR and A350 planes.
In 2023, Interglobe Aviation placed an order of 500 planes from Airbus and assured of extending the order to 800 jets. This 500 aircraft order is not only IndiGo’s largest order, but also the largest-ever single aircraft purchase by any airline with Airbus. IndiGo has a fleet of 300 aircraft and is operating well over 1.800 daily flights and connecting 78 domestic destinations.
IndiGo Q4 2024 Results
IndiGo delivered another quarter of strong financial performance. The airline reported a net profit of Rs 81,725 million for the year ended March 2024. It mentioned that the capacity increased by 14.4 per cent to 34.8 billion, while the passengers increased by 14.0 per cent to 26.7 million.
For the quarter ended March 31, 2024, compared to the same period last year, EBITDAR was reported at Rs 44,123 million (24.8% EBITDAR margin), compared to EBITDAR of
INR 29,665 million (20.9% EBITDAR margin).
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IndiGo share price target: Two brokerage firms – UBS and Kotak Institutional Equities have maintained a Buy call on Interglobe Aviation stock. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
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