SpiceJet flies to profit zone with Rs 102 crore Q3 net
22 Jan 2013 5:35 AM IST
Low-cost carrier SpiceJet on Monday reported a net profit of Rs 102 crore for the third quarter ended December 2012 mainly helped by more international flights and relatively lower fuel expenses.
The Chennai-based airline promoted by Kalanithi Maran had reported a net loss of Rs 39.26 crore in the same period the prior year.
For the October-December quarter, the carrier posted 37 per cent increase in revenue at Rs 1,603 crore compared to Rs 1,173 crore, SpiceJet said in a filing to the BSE.
The average passenger yields during the reporting quarter increased 29 per cent, while the number of passengers carried rose by 7 per cent. With better fleet optimisation, an altered route mix and higher yields, fuel cost as a proportion fell to 45 per cent of the total revenue in the current quarter as against 50 per cent in the comparable quarter for the previous year, the company said.
To announce a profit of Rs 102 crore for the third quarter in the current challenging environment is a huge achievement and clearly demonstrates that the strategic changes SpiceJet have made in the last two years has created a platform for future success of the company,' CEO, Neil Mills said. PTI
SCRIP ZOOMS 5%
Shares of SpiceJet on Monday climbed 5 per cent, after the low-cost carrier reported a net profit of Rs 102 crore for the third quarter ended December 2012.
After surging nearly 8 per cent in intraday, shares of the company finally ended at Rs 46.15, up 5.01 per cent from its previous close on the BSE. In terms of volume, 149.13 lakh shares of the company were traded on the BSE during the day. ‘Spicejet gained 5 per cent after the company declared quarterly profit of Rs 102 crore, mainly helped by more international flights and relatively lower fuel expenses,’ said Milan Bavishi, Head Research, Inventure Growth & Securities.
The Chennai-based airline promoted by Kalanithi Maran had reported a net loss of Rs 39.26 crore in the same period the prior year.
For the October-December quarter, the carrier posted 37 per cent increase in revenue at Rs 1,603 crore compared to Rs 1,173 crore, SpiceJet said in a filing to the BSE.
The average passenger yields during the reporting quarter increased 29 per cent, while the number of passengers carried rose by 7 per cent. With better fleet optimisation, an altered route mix and higher yields, fuel cost as a proportion fell to 45 per cent of the total revenue in the current quarter as against 50 per cent in the comparable quarter for the previous year, the company said.
To announce a profit of Rs 102 crore for the third quarter in the current challenging environment is a huge achievement and clearly demonstrates that the strategic changes SpiceJet have made in the last two years has created a platform for future success of the company,' CEO, Neil Mills said. PTI
SCRIP ZOOMS 5%
Shares of SpiceJet on Monday climbed 5 per cent, after the low-cost carrier reported a net profit of Rs 102 crore for the third quarter ended December 2012.
After surging nearly 8 per cent in intraday, shares of the company finally ended at Rs 46.15, up 5.01 per cent from its previous close on the BSE. In terms of volume, 149.13 lakh shares of the company were traded on the BSE during the day. ‘Spicejet gained 5 per cent after the company declared quarterly profit of Rs 102 crore, mainly helped by more international flights and relatively lower fuel expenses,’ said Milan Bavishi, Head Research, Inventure Growth & Securities.
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