InterGlobe Aviation skids 11% on weak June quarter results

The stock dipped 11% to Rs 891, also its 52-week low on the BSE after the company reported a 96% year on year (yoy) decline in net profit at Rs 278 million in June 2018 quarter. InterGlobe Aviation (owner of airline IndiGo) has dipped 11% to Rs 891, also its 52-week low on the BSE in early morning trade, after the company reported a 96% year on year (yoy) decline in net profit at Rs 278 million in June 2018 (Q1FY19) quarter. The analysts on an average had expected a profit of Rs 5 billion. The profitability was majorly impacted by the adverse impact of foreign exchange, high fuel prices and the competitive fare environment.

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