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IndiGo shares climb over 5% after Q3 profit zooms 111% YoY. Should you buy or sell?
InterGlobe Aviation, also known as IndiGo, saw its shares rise by 5.6% after reporting a consolidated net profit of Rs 2,998 crore, a significant increase of 111% compared to the same quarter last year. The company's revenue from operations also grew by 30% year-on-year to reach Rs 19,452 crore. With five consecutive profitable quarters, IndiGo is now net worth positive. The company's EBITDAR jumped 61% to Rs 5,475 crore, while passenger ticket revenues rose by 30% to reach Rs 17,157 crore. Analysts recommend buying IndiGo stock due to positive industry dynamics and strong financial performance.