Higher costs, capacity curbs weigh on IndiGo shares after Q3 show
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Mumbai: Shares of InterGlobe Aviation, the operator of IndiGo, slipped 4% on Friday as brokerages struck a mixed note on after the airline's December-quarter results. Analysts flagged near-term pressures from higher costs, currency weakness and regulatory curbs on capacity, while remaining optimistic about the company's long-term prospects The company posted a 78% drop in net profit from a year earlier, a print that left analysts divided on the stock's near-term prospects even as most brokerages continued to recommend buying, projecting 10-33% upside over the next 12 months. IndiGo's shares closed at ₹4,715, down 3.95%, while the Nifty 50 finished nearly 1% lower at 25,048.65. Agencies Motilal Oswal said in its note that despite short-term challenges including reduced capacity, capped fares, rupee depreciation and rising damp leases, IndiGo remains confident in its strategy, supported by a strong domestic network and ex...