IndiGo shares extend losses for third straight day after Q1 miss; down 9% in July

InterGlobe Aviation, parent of IndiGo, reported a consolidated net loss of about Rs 238 crore for the June quarter — its second consecutive quarterly loss — pushing shares down 9 percent in July and another 3 percent on Friday to an intraday low of Rs 4,886. The miss was driven by a doubling of aircraft fuel expenses to Rs 10,833 crore and a 34 percent YoY rise in total expenses, with EBITDAR margin contracting sharply from 28 percent to 15.6 percent. Brokerage JM Financial retained its Add rating with a target price of Rs 5,800, citing IndiGo's dominant market position, disciplined capacity deployment, and multi-year international expansion opportunity.