IndiGo Q4 results fail to excite Street? Here’s what brokerages say
IndiGo share price NSE: Interglobe Aviation — which owns and operates airline IndiGo — faced selling pressure on Dalal Street on Friday, a day after the company a 35.4 per cent sequential fall in net profit to Rs 919.2 crore for the January-March period.
IndiGo share price NSE: Interglobe Aviation — which owns and operates airline IndiGo — faced selling pressure on Dalal Street on Friday, a day after the company a 35.4 per cent sequential fall in net profit to Rs 919.2 crore for the January-March period. IndiGo shares on Friday ended at Rs 2,257.45, down by Rs 7.2 or 0.32 per cent on NSE.
IndiGo Q4 results
Interglobe Aviation’s quarterly revenue contracted 5.2 per cent to Rs 14,160.6 crore compared with the previous three months, according to a regulatory filing. The airline’s top-line and bottom-lines were better than analysts’ estimates. According to Zee Business research, Interglobe Aviation's quarterly net profit was estimated at Rs 872.9 crore and revenue at Rs 13,736.4 crore.
The company said the profit was its best-ever in a March quarter. Excluding the foreign exchange gain of Rs 252.8 crore, the net profit aggregated to Rs 666.4 crore, according to the company.
Union ministers Tomar, Patel, Kulaste, several MPs in BJP's 2nd list of candidates for Madhya Pradesh polls
Gold and Silver price today (September 26, 2023): Precious metal trade under pressure; Gold helds Rs 58,630 level
India vs Australia 3rd ODI Free Live Streaming: When and How to watch IND VS AUS match live on Web, tv, mobile apps online
IndiGo share price target: Should you buy, sell or hold?
JP Morgan maintained its ‘overweight’ rating on IndiGo after the company’s earnings announcement and raised its target price by Rs 300 to Rs 2,700.
Here’s what other brokerages make of IndiGo shares:
- Morgan Stanley maintained ‘overweight’ and raised its target price to Rs 3,126 from Rs 2,761
- Citi retained ‘buy’ with a target price of Rs 2,400
- Jefferies continued with ‘underperform’ and raised its target to Rs 1,950 from Rs 1,615
- Credit Suisse maintained ‘outperform’ with a target of Rs 2,450
- Goldman Sachs maintained a ‘buy” and raised its target to Rs 2,600 from Rs 2, 420
Interglobe Aviation shares: Historical performance
As of May 19, the Interglobe Aviation stock has gained nearly 36 per cent in one year, sharply outperforming a 14 per cent rise in the Nifty headline index.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Retirement Planning: How long-term recurring deposit is a low-risk, guaranteed return investment for senior citizens?
JSW Infrastructure IPO opens for subscription: Check price band, lot size, share listing date and time on NSE, BSE