Profit

SpiceJet Third Quarter Net Profit Surges Over 32 Per Cent

Low-cost carrier SpiceJet Ltd reported a more than 32 per cent rise in quarterly profit on Wednesday,

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SpiceJet Third Quarter Net Profit Surges Over 32 Per Cent

Spice Jet shares rise 5.57% to Rs 136.55 on BSE


Low-cost carrier SpiceJet Ltd reported a more than 32 per cent rise in quarterly profit on Wednesday, helped by a higher passenger load factor and an increase in passenger yields. The airline's standalone net profit, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, was Rs 240 crore ($37.42 million) for the three months ended December 31, compared with Rs 181 crore a year ago.

Net income from operations rose 29 per cent to Rs 2,065 crore.

Passenger yields, a measure of average fare and distance flown, climbed 14 per cent, while the average domestic passenger load factor, which measures how much of an airline's passenger carrying capacity is used, was in excess of 95 per cent. SpiceJet shares rise 5.57% to Rs 136.55 on BSE against the previous session's closing on Rs 129.35. 

© Thomson Reuters 2018


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