IndiGo shares soar 7% to record high
IndiGo, which cornered over 60% of the domestic market share, is expecting early double-digit growth in its capacity in the next fiscal.
IndiGo, which cornered over 60% of the domestic market share, is expecting early double-digit growth in its capacity in the next fiscal.
The low-cost carrier expects the addition of more than one aircraft per week and an additional 10 destinations.
The airline will operate between Ahmedabad-Rajkot, Ahmedabad-Aurangabad, Bhopal-Lucknow, and Indore-Varanasi from March 31.
IndiGo shares surge as much as 5.6% to hit a new all-time high of ₹3,301.40 today; the aviation stock has rallied 15% in the last six sessions.
“With these 5 consecutive quarters of profit we continue to recover from the losses of Covid and have now become net worth positive again,” says CEO Pieter Elbers.
IndiGo aims to double its size by the end of this decade.
Uniform fleet and more routes, especially in the domestic market, aid turnaround.
"We are always in the process of evaluating options available," says IndiGo.
The CIT-Appeal issued orders to demand ₹739.68 crore and ₹927.03 crore tax demand for the assessment years 2016–17 and 2017–18, respectively
The company swung in black after reporting a profit of ₹188.9 crore for the July to September quarter of FY24, against a net loss of ₹1,583.3 crore in the same period last year.