New Delhi: The shares of InterGlobe Aviation, the parent of IndiGo, plunged over 8 per cent on October 28, 2024 (Monday). The IndiGo share price was trading at Rs 3,999.70 at 12:08 pm. The airline stock declined posted a net loss of Rs 986.7 crore in the second quarter of 2024-25 on headwinds from grounding of planes and higher fuel costs. Earlier in the day, IndiGo share price plummeted 13.42 per cent to Rs 3,778.50 on the BSE while the shares slumped 13.42 per cent to Rs 3,780 on the NSE.
IndiGo share price gained over 2 per cent in the last six months and more than 60 per cent in the last 1 year.
IndiGo Q2 Results 2024-25
In its July-September quarterly results, IndiGo recorded a net loss of Rs 986.7 crore on headwinds from grounding of planes and higher fuel costs. In its financials, InterGlobe Aviation mentioned that IndiGo became India’s first airline to have over 400 aircraft.
In the second quarter of 2024-25, IndiGo stated that its total income stood at Rs 177,590 million, a surge of 14.6 percent over the same quarter in 2023-24. The airline informed that its passenger ticket revenues stood at Rs 143,592 million, an increase of 9.9% and ancillary revenues were Rs 18,750 million, an increase of 20.9 per cent compared to second quarter of the previous financial year.
For the quarter ended September 2024, IndiGo reported a total income of Rs 177.6 billion, a net increase of 14.6 per cent as compared to the second quarter of 2023-24. IndiGo, however, reported a net loss of Rs 9.9 billion.
Giving details of its fleet strength, IndiGo’s fleet stood at 410 aircraft including 41 A320 CEOs (17 damp lease & 4 secondary leases), 201 A320 NEOs, 112 A321 NEOs, 45 ATRs, 3 A321 freighters, 6 B737 (damp lease) and 2 B777 (damp lease) as of 30th September 2024.
“IndiGo’s growth and expansion continued as our topline grew by 14.6 percent on a year over year basis, in the second quarter to 178 billion rupees. In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs. We have turned the corner as the number of grounded aircraft and associated costs have started reducing,” IndiGo CEO Pieter Elbers said.
InterGlobe Aviation share price: IndiGo share price dropped over 8 per cent on October 28, 2024 morning after IndiGO posted posted a net loss of Rs 986.7 crore in the September quarter, Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
