IndiGo, SpiceJet shares climb nearly 4% as oil slips over 6% after US and Iran halt attacks

Brent crude futures, the international benchmark, slipped 6.22% to $92.26 per barrel. West Texas Intermediate (WTI) fell 4.42% to $85.36 a barrel.

This development raises hopes that tensions in the Middle East could ease, potentially alleviating rising fuel costs and improving investor sentiment.

The stock of IndiGo rose as much as 3.75% to ₹5,175 per share on the National Stock Exchange (NSE).

Shares of BSE-listed SpiceJet were up 1% to ₹12.16 apiece.

IndiGo had announced its Q1 FY27 results last week, while SpiceJet has not notified the details of its board meeting.

IndiGo Q1 results

In Q1 FY27, InterGlobe Aviation saw its total income climb to ₹25,614.1 crore from ₹21,542.6 crore a year ago, reflecting a growth of 18.90%.

However, overall expenses advanced during the same period, according to an exchange filing.

"A combination of fuel price escalation, adverse foreign exchange movement and the Middle East conflict impacted profitability during the quarter, resulting in a net loss of ₹2.4 billion," it said.

The carrier's net loss excluding foreign exchange amounted to ₹56 million (₹5.6 crore) in the reporting quarter, the release said.

Rahul Bhatia, the company's managing director, said, “The first quarter was shaped by a volatile operating environment, with elevated fuel costs and network-related constraints in the Middle East impacting profitability. At the same time, demand remained healthy, and our revenue performance improved year-on-year, supported by improved yields and continued customer preference for IndiGo as we proudly served more than 31 million passengers."

InterGlobe Aviation Ltd is the parent of low-cost carrier IndiGo, which has a domestic market share of more than 66%.