IndiGo shares tumble 12% after Q2 earnings

New Delhi: Shares of InterGlobe Aviation on Friday tumbled 12 per cent wiping off more than Rs 7,600 crore from its market valuation after the company posted a substantial loss in the September quarter.

On the BSE, the airline stock tanked 11.91 per cent to close at Rs 1,467.90 apiece. During the day, it plummeted 12.83 per cent to Rs 1,452.50 apiece. On the NSE, the scrip tumbled 11.73 per cent to settle at Rs 1,469.50 apiece.

The company's market valuation dropped Rs 7,633.23 crore to Rs 56,463.77 crore on the BSE. In terms of traded volume, 3.98 lakh shares were traded on the BSE and over one crore shares changed hands on the NSE.

Budget carrier IndiGo's parent InterGlobe Aviation on Thursday reported widening of its net loss to Rs 1,062 crore for the September quarter, hit by higher costs related to operating lease liabilities. The company had a net loss of Rs 651.5 crore in the corresponding period a year ago.