InterGlobe Aviation, the parent company of Indigo fell intra day over 6% at Rs.1007.40. The stock’s high is at Rs.1395.50 and low is at Rs.702.

The stock price plunged after its Q4FY16 performance disappointed market. Its net profit remained flat at Rs.579 crore v/s net profit of Rs.577 crore in previous Q4.It was expected that with oil prices remaining steady during the quarter and with the airlines flying more number of passengers, the higher volumes would have helped the company to post a much better performance. Lower rental and higher tax outgo is what out the muted the bottomline – these two factors led to a 12% rise in operating costs, despite lower fuel bill. Total income was up 7% at Rs.4091 crore.  

There was a 23% drop in jet fuel prices during the quarter and the company’s fuel bill actually showed a 15% drop. Its passenger revenue for the quarter rose 7% to Rs.4060 crore with the airline carrying 24% more passengers with load factor improving to 85.1%.