IndiGo share price NSE: Interglobe Aviation — which owns and operates airline IndiGo — faced selling pressure on Dalal Street on Friday, a day after the company a 35.4 per cent sequential fall in net profit to Rs 919.2 crore for the January-March period. IndiGo shares on Friday ended at Rs 2,257.45, down by Rs 7.2 or 0.32 per cent on NSE. 

IndiGo Q4 results

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Interglobe Aviation’s quarterly revenue contracted 5.2 per cent to Rs 14,160.6 crore compared with the previous three months, according to a regulatory filing. The airline’s top-line and bottom-lines were better than analysts’ estimates. According to Zee Business research, Interglobe Aviation's quarterly net profit was estimated at Rs 872.9 crore and revenue at Rs 13,736.4 crore.

The company said the profit was its best-ever in a March quarter. Excluding the foreign exchange gain of Rs 252.8 crore, the net profit aggregated to Rs 666.4 crore, according to the company.

IndiGo share price target: Should you buy, sell or hold?

JP Morgan maintained its ‘overweight’ rating on IndiGo after the company’s earnings announcement and raised its target price by Rs 300 to Rs 2,700.

Here’s what other brokerages make of IndiGo shares: 

  • Morgan Stanley maintained ‘overweight’ and raised its target price to Rs 3,126 from Rs 2,761
  • Citi retained ‘buy’ with a target price of Rs 2,400
  • Jefferies continued with ‘underperform’ and raised its target to Rs 1,950 from Rs 1,615
  • Credit Suisse maintained ‘outperform’ with a target of Rs 2,450
  • Goldman Sachs maintained a ‘buy” and raised its target to Rs 2,600 from Rs 2, 420

Interglobe Aviation shares: Historical performance

As of May 19, the Interglobe Aviation stock has gained nearly 36 per cent in one year, sharply outperforming a 14 per cent rise in the Nifty headline index.

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