Maintain BUY TP of Rs 1,395 based on 14.5x FY20 EPS. Interglobes 3QFY18 results were in line with expectations. Revenue grew 23.9% YoY to Rs 61.8bn, driven by RPKM growth at 14.6%, while yield increased 6.3%. PAT increased 56.6% to Rs 5.7bn. ASKM growth was good at 13%, with the load factor improving 120bps to 88.5%. Fuel cost per ASKM increased 13.7% QoQ, as avg. ATF prices shot up. EBITDAR margin increased 240bps to 31.3% due to improved pricing. Margin (RASK-CASK) was strong at Rs 0.49 per ASKM in a seasonally strong quarter, as compared to Rs 0.30 per ASKM in 3QFY17.