IndiGo Q3: Focus on international destinations lifts outlook, say analysts

IndiGo's international business during the quarter stood at 105 per cent compared to pre-Covid levels

InterGlobe Aviation, the parent firm of IndiGo Airlines, reported a record net profit of Rs 1,422 crore in the October-December quarter (Q3) of financial year 2022-23 (FY23), prompting brokerages to increase their one-year target price on the company's stock.

On the bourses, however, shares of IndiGo dipped 1.32 per cent to Rs 2,071 apiece, as against a 0.5-per cent fall in the benchmark S&P BSE Sensex.

Kotak Institutional Equities, meanwhile, has revised its target to Rs 2,550 on the back of a sharp beat in Q3 profit, driven by better volumes and yields, coupled with surpassing pre-Covid levels of