InterGlobe Aviation (owner of airline IndiGo) had reported a 96% decline in net profit at Rs 278 million in Q1FY19 owing to adverse impact of foreign exchange and high fuel prices. Analysts had expected net profit of Rs 5 billion from the budget carrier for the quarter.
(India) is scheduled to announce its June quarter results on Thursday, August 9, 2018.
“We expect aviation firms under our coverage (IndiGo, SpiceJet
and Jet Airways) to report 71% YoY decrease in their cumulative profit after tax due to anticipated lower yields growth of IndiGo
and Jet Airways
versus rise in fuel cost, while SpiceJet would fully pass-on the increase in fuel cost,” the brokerage firm Elara Capital said in Q1FY19 preview.
At 11:30 am; SpiceJet was trading 3% at Rs 89.45 on the BSE, as compared to 0.42% rise in the Sensex. Around 1.29 million equity shares changed hands on the counter on the BSE so far.