IndiGo shares locked in 10% upper circuit as crude oil prices fall in global markets

Shares of InterGlobe Aviation, the operator of India's largest airline by market share IndiGo, were locked in 10% upper circuit at ₹4,695.60 on the National Stock Exchange (NSE) on Wednesday, April 8, after crude oil prices dropped below $100 per barrel in global markets. On the BSE, as well IndiGo shares were locked in 10% upper circuit with a total pending buy orders for 43,201 shares while no sellers were seen on the BSE.

IndiGo shares came under buying interest after crude oil prices dropped in global markets after the United States and Iran agreed to a two-week ceasefire.

Global crude benchmark Brent Oil futures for delivery in June dropped as much as 16% to hit an intraday low of $91.72 per barrel after President Donald Trump agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face devastating attacks on its civilian infrastructure in which he had threatened 'a whole civilization will die'.

Trump said the last-minute deal was subject to Iran's agreement to pause its blockade of oil and gas supplies through the strait. Iran's Foreign Minister, Abbas Araqchi, said in a statement Tehran would stop counter-attacks and provide safe passage through the strait.

Iranian state TV said Trump had accepted Iran's terms for ending the war, describing it as a "humiliating retreat" by the US president.

IndiGo Q3 earnings

InterGlobe Aviation in January reported net profit of ₹550 crore in the third quarter of current financial year (Q3FY26), marking a decline of 77% form ₹2,449 crore in the same period last year. The sharp decline in profit came on account of exceptional expense of ₹1,546 crore in October-December period.

The exceptional expense included ₹969 crore set aside for implementation of new labour codes and ₹577 crore for operational disruptions it faced in December, IndiGo said in a regulatory filing.

IndiGo's revenue from operations rose 6% to ₹23,472 crore from ₹22,111 crore in the year-ago period.

IndiGo reported stable operational performance as its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also known as operating profit advanced 4% to ₹5,367 crore but its EBITDA margin contracted by 60 basis points to 22.9%.

As of 9:36 am, IndiGo shares traded 9.55% higher at ₹4,674, outperforming the NIFTY50 index which was up 3.3%.