IndiGo co-founder Rakesh Gangwal sells 5.8% stake worth ₹11,928 crore
Interglobe Aviation, the operator of IndiGo Airlines, saw its stock slipping nearly 3% on Tuesday after its co-founder Rakesh Gangwal offloaded 2.26 crore shares worth nearly ₹11,928 crore in a block deal. The block sale constituted 5.8% of Gangwal’s stake in the leading budget airline, according to multiple reports. Gangwal had resigned from the board of InterGlobe Aviation in 2022 and remained one of IndiGo’s largest shareholders.The floor price for the transaction has been pegged at ₹5,260 per share, representing a discount of around 3% to the last closing price, according to reports.The stock, however, recovered from early losses and was trading at ₹5,318.00 a piece, down 1.88% around 11 am.In the January–March quarter (Q4 FY25), IndiGo recorded a sharp 61.89% year-on-year (YoY) jump in its consolidated net profit at ₹3,067.5 crore. This was up from ₹1,894.8 crore in Q4 FY24. Excluding foreign exchange impact, the profit rose 44.7 per cent to ₹2,981.1 crore in Q4, compared to ₹2,060 crore in the same quarter last fiscal.Revenue from operations in Q4 increased by 24.3% to ₹22,151.9 crore, up from ₹17,825.3 crore in a year-ago period.The airline’s EBITDAR (earnings before interest, taxes, depreciation, amortisation, and rent) also rose significantly by 57.5% to ₹6,948.2 crore during the quarter. The EBITDAR margin improved to 31.4% compared to 24.8% in the same quarter last financial year.IndiGo witnessed a 21% rise in capacity and a 19.6% increase in the number of passengers during the quarter, reaching 3.19 crore travellers. The load factor also went up slightly to 87.4%, compared to 86.3% in Q4 FY24.(This story was taken from a syndicated feed and was only edited for style by Gujarat Samachar Digital team)
Interglobe Aviation, the operator of IndiGo Airlines, saw its stock slipping nearly 3% on Tuesday after its co-founder Rakesh Gangwal offloaded 2.26 crore shares worth nearly ₹11,928 crore in a block deal.
The block sale constituted 5.8% of Gangwal’s stake in the leading budget airline, according to multiple reports. Gangwal had resigned from the board of InterGlobe Aviation in 2022 and remained one of IndiGo’s largest shareholders.
The floor price for the transaction has been pegged at ₹5,260 per share, representing a discount of around 3% to the last closing price, according to reports.
The stock, however, recovered from early losses and was trading at ₹5,318.00 a piece, down 1.88% around 11 am.
In the January–March quarter (Q4 FY25), IndiGo recorded a sharp 61.89% year-on-year (YoY) jump in its consolidated net profit at ₹3,067.5 crore. This was up from ₹1,894.8 crore in Q4 FY24. Excluding foreign exchange impact, the profit rose 44.7 per cent to ₹2,981.1 crore in Q4, compared to ₹2,060 crore in the same quarter last fiscal.
Revenue from operations in Q4 increased by 24.3% to ₹22,151.9 crore, up from ₹17,825.3 crore in a year-ago period.
The airline’s EBITDAR (earnings before interest, taxes, depreciation, amortisation, and rent) also rose significantly by 57.5% to ₹6,948.2 crore during the quarter. The EBITDAR margin improved to 31.4% compared to 24.8% in the same quarter last financial year.
IndiGo witnessed a 21% rise in capacity and a 19.6% increase in the number of passengers during the quarter, reaching 3.19 crore travellers. The load factor also went up slightly to 87.4%, compared to 86.3% in Q4 FY24.
(This story was taken from a syndicated feed and was only edited for style by Gujarat Samachar Digital team)
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