InterGlobe Aviation shares rally 3% after doubling Q4 profit. Brokerages increase target price up to Rs 5,192
[hfe_template id='11223']
[ad_1]
Shares of InterGlobe Aviation, which operates IndiGo Airlines, rose nearly 3% in Friday's trade on BSE to its new 52-week high of Rs 4,520 after the company’s PAT more than doubled to Rs 1,895 crore in Q4. Revenue from operations increased 26% year-on-year (YoY) to Rs 17,825 crore in the reporting quarter while the airline's passenger ticket revenues grew 25% YoY to Rs 15,601 crore. Here’s what analysts from various global and domestic brokerages say: Nuvama Nuvama stated that IndiGo’s growth is attributable to strong capacity addition, low ATF cost, and a rise in yields. RPKM rose as the demand stayed strong while the international segment surged 49% YoY. Nuvama further believes cost realization to continue and yields to remain healthy as a duopolistic structure bodes well for the company.Nuvama maintained a ‘buy’ view of the stock with a target price of Rs 5,192. Bank of America The global brokerage firm has lifted its estimates...