IndiGo Falls Most in Almost Two Years as Results Disappoint
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Shares of InterGlobe Aviation Ltd., which runs India’s biggest airline, tumbled the most in almost two years after net income and revenue fell short of estimates due to a rise in fuel costs and foreign-exchange losses.
IndiGo dropped 10 percent in Mumbai on Thursday, the most since August 2016. The stock has plunged 20 percent since touching a record on April 20, wiping out about $1.7 billion in market value.