Shares of Interglobe Aviation- the parent company of Indigo swung between gains and losses in Thursday’s (January 2) trade after international trade Goldman Sachs maintained a ‘buy’ rating on the counter with a price target of Rs 4,800 per share- implying potential upside. about 5 percent from the last close of Rs 4,591.
At around 10:47 am, the shares were trading 1 percent or Rs 48.05 lower at 4,543.4 per share on the BSE. In early trade, the stock at the day’s high touched Rs 4,635.95 apiece.
Brokerage for the quarter ended December expects healthy growth in Px/ ASK (Available Seat Kilometers) while cost pressures are likely to keep margins lower year-on-year (YoY) during the quarter.
Also, the global brokerage expects an improvement in the airline’s domestic performance in Q3, with RPK/px growth of around 12 percent YoY and market share increased by around 100bps respectively.
In addition, the passenger load factor or PLF is seen improving by 150 basis points YoY, while the domestic yield is expected to be smaller for the year.
Q2FY25 results
In the September quarter, the airline major reported a net loss of Rs 987 crore, while operating income jumped 13.55 percent YoY to Rs 16,969.6 crore for the quarter ended 30 September 2024. Total income for Q2 FY25 was Rs. Rs 17,759 crore, changed +14.55% if compared to yesterday’s 15,502.9 crore in Q2 FY24.
During the quarter, passenger ticket revenue was Rs 143,59.2 crore, registering an increase of 9.9 percent and revenue was Rs 1,875 crore, up 20.9 percent compared to the same period last year.
Indigo share price performance
In the past one year shares of Indigo have risen over 54 percent, with a 52-week low and a 52-week high of Rs 2,847 and Rs 5,035 per share.
