Maintain TP of Rs 1,310, based on 16x FY19EPS. Indigos 1QFY18 results beat expectations, owing to savings on fuel. Revenue grew 25.6% YoY to Rs 57.5bn, driven by RPKM growth at 25%. During the quarter, yield was up 2%, in line with expectations. PAT increased 37% to Rs 8.1 bn.