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INTERGLOBE AVIATION SHARES JUMP NEARLY 6 PERCENT AS Q3 PROFIT MORE THAN DOUBLES




InterGlobe Aviation, the parent company of IndiGo, witnessed a significant surge in its shares by nearly 6% on Monday, there's been a more than doubling of profit after tax to Rs 2,998.1 crore for the December 2023 quarter. The stock reached Rs 3,301.40, marking its 52-week high on the BSE, and climbed 5.52% to Rs 3,300 at the NSE, also hitting its 52-week high.

The notable increase in profit after tax was attributed to higher capacity and increased passenger traffic during the third quarter of the current fiscal. The company's profit after tax soared from Rs 1,422.6 crore in the year-ago period to Rs 2,998.1 crore in the recent quarter. Excluding foreign exchange loss, the company's profit stood at Rs 3,049.1 crore in the quarter, compared to Rs 2,009.1 crore in the same period a year ago.

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