SpiceJet Surges 4% On Reporting Profit Of Rs 262 Crore In June Quarter

SpiceJet Surges 4% On Reporting Profit Of Rs 262 Crore In June Quarter

SpiceJet reported standalone net profit of Rs 261.67 crore in June quarter compared with a loss of Rs 38.06 crore in the year ago period, according to a stock exchange notification filed by the company with stock exchanges. SpiceJet's total revenue from operations rose 35 per cent to Rs 3,002.07 crore compared with Rs 2,220.40 crore in the year ago period.

SpiceJet's earnings before interest, taxes, depreciation and amortisation (EBITDA) or operating profit came in at Rs 747.5 crore as against Rs 100.5 crore in the corresponding quarter last year, the Gurugram-based budget airline operator said.

Operating expenses were at Rs 2,883.6 crore as against Rs 2,227.9 crore in the corresponding period last year, the airline added.

Ajay Singh, chairman and managing director at SpiceJet said: "SpiceJet has been on a spectacular growth journey and this quarter, in particular, has been very special for us. We added 32 aircraft to our fleet expanding at a pace unprecedented for a sector plagued by crisis showcasing our robust business model and proven operational capabilities."

During the quarter SpiceJet added 32 aircraft and the total feet at the end of June quarter stood at 107 planes. The airline had the industry's highest domestic passenger load factor of 93.8 per cent during the April-June period, SpiceJet said in a press release.

The airline has been allotted an additional 48 domestic and international departure slots in Mumbai and 15 domestic and international departure slots in Delhi. Starting April 1, 2019 the airline has announced 130 additional flights that includes 78 flights connecting Mumbai, 20 flights connecting Delhi and 12 flights connecting Mumbai and Delhi, SpiceJet said.

As of 1:53 pm, SpiceJet shares traded 2.57 per cent higher at Rs 139.45 outperforming the Sensex which was up 1 per cent.

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