Inter-Globe Aviation shares surge over 6 percent after yield jump in December quarter

Shares of InterGlobe Aviation surged over 6 percent Thursday after the company reported a rise in yield in the quarter ended December 2018. The stock rose by 6 percent to close at Rs 1,174.40 on the BSE. Intra-day, it jumped 6.86 percent to Rs 1,184. At the National Stock Exchange (NSE), shares of the company soared 6.24 percent to settle at Rs 1,178.55 apiece. Market valuation of InterGlobe Aviation, parent firm of IndiGo, rose by Rs 2,554.74 crore to Rs 45,144.74 crore on the BSE.

In terms of equity volume, 4.28 lakh shares of the company were traded on the BSE and over 96 lakh shares changed hands on the NSE during the day. Yield is the average fare per passenger per mile. Its yield rose by 3.7 percent in the December 2018 quarter, according to a company statement.

Meanwhile, InterGlobe Aviation Wednesday reported a 75 percent fall in profit after tax to Rs 190.9 crore in the December quarter, as high fuel prices and currency depreciation adversely impacted the bottomline. The airline had a profit after tax of Rs 762 crore in the corresponding period of 2017-18 . According to a release, the carrier's total income rose over 28 per cent to Rs 8,229.4 crore in the three months ended December 2018.