SpiceJet Q3 net profit jumps 32% to ₹240 cr

NEW DELHI: THE TOTAL INCOME FROM OPERATIONS OF THE COMPANY STOOD AT ₹2,081.95 CRORE FOR THE DECEMBER QUARTER OF 2017

Low-cost carrier SpiceJet on Wednesday reported a 32% rise in its net profit at ₹240 crore 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 ₹181.14 crore 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 chief managing (CMD) director Ajay Singh said.

The total income from operations of the company stood at ₹2,081.95 crore for the December quarter of 2017, while in the year ago period it stood at ₹1,642.41 crore, a company release said.

“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% in crude oil prices, a one-time expense of ₹25 crore and an inflationary increase of 3% in other costs,” the release added.

The company witnessed a 14% increase in its passenger yields (revenue per available seat kilometer) while its average domestic load factor was 95%. The shares of the company were trading at ₹138.30, up 6.92% on the Bombay Stock Exchange (BSE).