The shares of the aviation company have fallen up to 4 percent after the company’s promoter is looking to offload 2 percent in the firm valued at Rs $394 million.
With a market capitalization of Rs 1.69 lakh crore, the shares of InterGlobe Aviation Ltd were trading in red at Rs 4,391.90 per share, decreasing around 3.74 percent as compared to the previous closing price of Rs 4,562.55 apiece.
Today, the shares of the company plummed after Rahul Bhatia’s promoter entity InterGlobe Enterprises Pvt Ltd plans to sell a 2 percent stake which is valued at $394 million in Indigo parent firm Interglobe Aviation via a block deal, the floor price is Rs 4,266 apiece. Moneycontrol reported.
Furthermore, InterGlobe Enterprises Pvt Ltd holds 14.57 crore equity shares which is equivalent to 37.75 percent in the company.
Looking forward to the company’s finances, revenue surged by 26 percent from Rs 14,161 crore in Q4FY23 to Rs 17,825 crore in Q4FY24, but, during the same period of time, net profit magnified by 107 percent from Rs 916 crore to Rs 1,894 crore.
IndiGo’s fleet has 367 aircraft as of March 2024, with 31 owned or on finance lease, 323 on operational lease, and 13 on damp lease. For fiscal year 2023-24, the business recorded a PAT margin of 11.9%, up from a negative 0.6% the prior year.
IndiGo’s capacity increased by 14.4%, to 34.8 billion, while passenger numbers increased by 14.0%, to 26.7 million. The yield increased by 7.0% to 5.19, while the load factor rose by 2.1 percentage points to 86.3%.
InterGlobe Aviation Limited (IndiGo) is a company that provides air transportation and pre- and post-flight ground handling operations, including passenger and cargo services, as well as related allied services such as in-flight sales, ground handling business, and other airport allied services.
Written by:- Abhishek Singh
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