New Delhi, May 22 -- InterGlobe Aviation Ltd (IndiGo) landed smoothly in the March quarter. A demand surge, led largely by the Mahakumbh festivities in January-February, helped the airline's capacity, measured by available seat kilometers (ASK), increase by 21% year-on-year last quarter.

Yields, a measure of pricing, were better than expected, up 2.4% at Rs.5.32. Lower operating costs and benign aviation turbine fuel expenses translated into Ebitdar - a key metric for airlines - rising almost 60% year-on-year to about Rs.6,950 crore, ahead of the consensus estimate. Ebitdar is earnings before interest, tax, depreciation, amortisation and lease rentals.

But IndiGo investors may have to buckle up for some turbulence in the June quarter (Q...