Indigo facing air pockets

about 1 year ago
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The Indigo stock price is having a pretty turbulent time on the bourses. First SEBI probe and now poor earnings for Q4FY18. The stock is among the top five losers on the BSE since opening bell, going down 17.5% to Rs.1111.30. Its LC is at 20% at Rs.1078.60 while UC at 10% at Rs.1483.05. Volumes are up over 6 times.

The company’s net profit for the quarter fell 73% (YoY) at Rs.118 crore, down mainly on account of costlier fuel, lower yields and aircraft groundings. Fuel cost rose over 33% (YoY) to Rs.2338 crore, which is 45% of the total revenue earned.

Revenue was up 18% at Rs.5,142 crore.

The poor performance notwithstanding, there is news of SEBI looking into the company’s stock price steep fall just before it made the announcement of the departure of its top executive, Aditya Ghosh.

Thus probe of insider trading and poor earnings have grounded the stock price today.

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