IndiGo’s net profit fell 18% to Rs 2,448.8 crore in the quarter ended December due to the rupee’s depreciation and an increased number of grounded planes despite strong demand. Revenue rose 14% to Rs 22,110.7 crore.
Shares of IndiGo closed 1.67% higher at Rs 4,729.20 apiece on the National Stock Exchange, compared to a 0.12% fall in the benchmark Nifty. The stock has risen 45.83% in the last 12 months.
Seventeen out of the 22 analysts tracking the company have a ‘buy’ rating on the stock,…
