InterGlobe Aviation shares tank over 11 pc after weak Q1 earnings

New Delhi: Shares of InterGlobe Aviation, which runs largest domestic carrier IndiGo, on Tuesday plunged over 11 per cent to hit its one-year low after the company reported a steep 96.6 per cent fall in net profit in June quarter.

The stock after making a weak opening further slumped 11.26 per cent to Rs 891.10 - its 52-week low - on BSE. At NSE, shares of the company tanked 11.39 per cent to hit its one-year low of Rs 890.55.

InterGlobe Aviation yesterday reported a steep 96.6 per cent fall in net profit to Rs 27.8 crore in June quarter, owing to adverse impact of foreign exchange, high fuel prices, lower yields and higher maintenance cost.

The Gurugram-based budget carrier had posted a net profit of Rs 811.10 crore in the same quarter last year. However, sales from operations rose 13.2 per cent to Rs 651.20 crore in the quarter, compared with Rs 575.29 crore in the year-ago period.