InterGlobe Aviation Ltd.'s share price extended its rally for the third day and surged as high as 4.07% to Rs 5120.10 apiece on the NSE amid a steep decline in crude oil prices and festive season demand environment.
The shares pared some gains to trade 3.2% higher at Rs 5,077 as of 9:55 a.m., as compared to a 0.77% advance in the Nifty index on Tuesday.
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Crude Oil Cools Off
After tumbling nearly 8% in the previous session, crude oil prices extended their decline on Tuesday, November 3, as hopes of progress in US-Iran diplomatic negotiations eased concerns over further disruptions to global energy supplies.
When last checked, Brent crude futures were trading at $104.50 per barrel, down 0.24% during the session.
Meanwhile, the international benchmark had settled at $104.77 on Monday, registering a 7.6% decline, its steepest single-day fall since the recent escalation in the conflict. US West Texas Intermediate (WTI) crude futures dropped 7.4% to settle at $96.46 per barrel, marking their biggest daily decline since July 27.
The easing of oil prices often means gains for aviation companies as the cost of fuel reduces considerably.
Air Traffic
IndiGo's air traffic jumped 14.5% on a month-on-month basis in October to 135.4 lakh from 118.2 lakh. However, it declined on a year-on-year basis to 135.4 lakh vs 142.5 lakh.
IndiGo Q2 FY27
InterGlobe Aviation Ltd., the parent company of IndiGo, reported a narrower consolidated net loss for the September quarter of fiscal 2027 as revenue rose 25.9% year-on-year, supported by improved operating performance.
The airline reported a net loss of Rs 1,879 crore for second quarter 2027, compared with a loss of Rs 2,582 crore in the corresponding quarter last year. The loss was also lower than the consensus estimate of Rs 2,063 crore.
Revenue from operations increased 25.9% year-on-year to Rs 23,364 crore, compared with Rs 18,555 crore in the year-ago quarter. The figure exceeded the market estimate of Rs 22,988 crore.
IndiGo's earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 229% to Rs 1,908 crore from Rs 579 crore a year earlier. Ebitda margin expanded to 8.2% from 3.1% in the same period last year.
However, earnings before interest, tax, depreciation, amortisation and rent (Ebitdar) declined 3% year-on-year to Rs 3,667 crore from Rs 3,792 crore. Ebitdar margin contracted to 15.7% from 20.4%.
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