IndiGo, India’s largest airline, has become the first Indian airline to achieve a market capitalization of 1 lakh crore (Rs 1 trillion). The company’s market capitalization crossed the 1 lakh crore mark on Wednesday, June 28, 2023, as its shares closed at Rs 2,634.25 on the BSE.
The surge in IndiGo’s market capitalization comes amid a broader rally in the Indian stock market. The Nifty 50 index, the benchmark index of the National Stock Exchange, closed at a record high of 18,887.60 on Wednesday.
IndiGo’s market capitalization is now higher than that of several other Indian companies, including HDFC Bank, Infosys, and TCS. The company’s market capitalization is also higher than that of several global airlines, including British Airways, Air France-KLM, and American Airlines.
IndiGo’s strong financial performance has been a major factor in the rise of its market capitalization. The company reported a net profit of Rs 3,303 crore in the financial year 2022-23, up from Rs 1,547 crore in the previous year. IndiGo’s revenue also grew by 26% to Rs 50,967 crore in the financial year 2022-23.
IndiGo’s strong financial performance is being driven by a number of factors, including the growth in air travel in India, the company’s low-cost business model, and its efficient operations. The company is also expanding its fleet and network, which is expected to boost its revenue and profitability in the coming years.
The rise of IndiGo’s market capitalization is a sign of the growing strength of the Indian aviation sector. The sector is expected to continue to grow in the coming years, driven by factors such as rising incomes, increased urbanization, and the growth of tourism. IndiGo is well-positioned to benefit from this growth, and its market capitalization is likely to continue to rise in the coming years.
Here are some of the key takeaways from the news article:
- IndiGo’s market capitalization has crossed the 1 lakh crore mark.
- The surge in IndiGo’s market capitalization comes amid a broader rally in the Indian stock market.
- IndiGo’s strong financial performance has been a major factor in the rise of its market capitalization.
- The growth of air travel in India, IndiGo’s low-cost business model, and its efficient operations are all driving the company’s growth.
- The rise of IndiGo’s market capitalization is a sign of the growing strength of the Indian aviation sector.
- IndiGo is well-positioned to benefit from the growth of the Indian aviation sector, and its market capitalization is likely to continue to rise in the coming years.