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Read more about SpiceJet records highest ever quarterly profit at Rs 2.4 billion in Q3 on Business Standard. The company had reported a net profit of Rs 1.81 billion in the same period a year ago

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spicejet records highest ever quarterly profit

SpiceJet records highest ever quarterly profit

at Rs 2.4 billion in Q3

Low-cost carrier SpiceJet on Wednesday reported a 32 per cent rise in its net

profit at Rs 2.4 billion for the three months ended December 2017, aided by

higher passenger revenue, making it the 12th successive profitable quarter for the

airline.

The company had reported a net profit of Rs 1.81 billion in the same period a year

ago.

"12 successive profitable quarters, record aircraft orders, industry's best load

factor, high on-time performance and constantly exploring new growth avenues

SpiceJet remains firmly on track on its long-term growth strategy," SpiceJet CMD

Ajay Singh said.

The total income from operations of the company stood at Rs 20.8 billion for the

December quarter of 2017, while in a year-ago period, it stood at Rs 16.4 billion, a

company release said.

the strong quarterly results were aided

"The strong quarterly results were aided by a higher passenger load factor and a

healthy increase in passenger yields despite a substantial rise of 17 per cent in

crude oil prices, a one-time expense of Rs 250 million and an inflationary increase

of 3 per cent in other costs," the release added.

The company witnessed a 14 per cent increase in its passenger yields (revenue

per available seat kilometer) while its average domestic load factor was 95 per

cent.

The shares of the company were trading at Rs 138.30, up 6.92 per cent on the

BSE.

Article By - Business Standard