Gold Silver Reports (GSR) – Net profit in the April-June period plunged 97 percent from the year-ago quarter to Rs 28 crore, according to an exchange filing by the parent of low-cost carrier IndiGo. That compares with the Rs 514-crore consensus estimate of analysts tracked.
Shares of the budget airline operator fell as much as 10.45 percent, the most in over two months, to Rs 900.05 after its June quarter profit was nearly wiped out on rising fuel cost, competitive fares and foreign exchange loss.