InterGlobe Aviation rose 2.58% to Rs 1,165.45 at 11:05 IST on BSE after the company clarified that it has not received any summons for FEMA violation.
The announcement was made after market hours yesterday, 20 June 2018.On the BSE, 79,000 shares were traded in the counter so far compared with average daily volumes of 32,000 shares in the past two weeks. The stock had hit a high of Rs 1,201.60 and a low of Rs 1,151.45 so far during the day. The stock hit a record high of Rs 1,520 on 20 April 2018. The stock hit a 52-week low of Rs 1,022.95 on 25 September 2017.
With respect to media reports indicating that the Enforcement Directorate has summoned the company's top management for foreign exchange management act (FEMA) violation, InterGlobe Aviation clarified that it has not received any such summons.
InterGlobe Aviation's net profit fell 73.28% to Rs 117.64 crore on 19.61% increase in net sales to Rs 5799.11 crore in Q4 March 2018 over Q4 March 2017.
InterGlobe Aviation is the operator of low cost passenger airline IndiGo, which is India's largest passenger airline with a market share of 39.5% as of March 2018.
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