New Delhi, May 27 (IANS) Interglobe Aviation, the operator of IndiGo Airlines, saw its stock slipping nearly 3 per cent on Tuesday after its co-founder Rakesh Gangwal offloaded 2.26 crore shares worth nearly Rs 11,928 crore in a block deal.

The block sale constituted 5.8 per cent 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 Rs 5,260 per share, representing a discount of around 3 per cent to the last closing price, according to reports.

The stock, however, recovered from early losses and was trading at Rs 5,318.00 apiece, down 1.88 per cent around 11 am.

In the January–March quarter (Q4 FY25), IndiGo recorded a sharp 61.89 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 3,067.5 crore. This was up from Rs 1,894.8 crore in Q4 FY24. Excluding foreign exchange impact, the profit rose 44.7 per cent to Rs 2,981.1 crore in Q4, compared to Rs 2,060 crore in the same quarter last fiscal.

Revenue from operations in Q4 increased by 24.3 per cent to Rs 22,151.9 crore, up from Rs 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 per cent to Rs 6,948.2 crore during the quarter. The EBITDAR margin improved to 31.4 per cent, compared to 24.8 per cent in the same quarter last financial year.

IndiGo witnessed a 21 per cent rise in capacity and a 19.6 per cent increase in the number of passengers during the quarter, reaching 3.19 crore travellers. The load factor also went up slightly to 87.4 per cent, compared to 86.3 per cent in Q4 FY24.

—IANS

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