Press Esc to close
Friday 06 March 2015
News updated at 12:51 PM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

SpiceJet flies its way to profit in Dec qtr

Bangalore, Jan 21, 2013, DHNS:
File Photo

A 29 per cent rise in yield per passenger, fuel cost optimisation and better fleet utilisation enabled low cost carrier SpiceJet reported net profit of Rs 102 crore for the quarter ended December 31, 2012 (Q3), compared to a loss of Rs 39 crore during the corresponding period last year.

The airline had reported a net loss of Rs 163 crore for the second quarter ending September 30, 2012.
SpiceJet’s revenues for Q3 were up 37 per cent at Rs 1,602.64 crore, up from Rs 1,172.83 crore for the period ended December 31, 2011. The airline saw a 2 per cent fall in domestic passengers, while international business was up 80 per cent.

The increase in yield per passenger went up from Rs 3,421 in the third quarter of last fiscal to Rs 4,412 in Q3, the company said in a filing with the Bombay Stock Exchange. The fuel cost as proportion of total cost fell from 50 per cent in the third quarter of fiscal 2012 to 45 per cent in Q3. The airline said it increased its share in the domestic passenger market from 16.80 per cent in December 2011 to 19.20 per cent in December 2012.

The company’s CEO Neil Mills 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 that
SpiceJet have made in the last two years have created a platform for future success of the company.”

SpiceJet operates about 330 flights daily to 42 Indian cities and 7 international destinations. The carrier also expanded its international network By adding new flights between Kochi-Male, Kochi-Dubai and Dubai-Ahmedabad.

The company’s share price closed at Rs 46.15 on the BSE on Monday, up 5.01 per cent from its previous close. 


Go to Top

Photo Gallery
Rajnath Singh celebrates Holi with Delhi BJP Chief Satish Upadhyay and party leader Vijay Goel...

Rajnath Singh celebrates Holi with Delhi BJP Chief Satish Upadhyay and party leader Vijay Goel...

Hema Malini reacts as an MP smears Gulal on her forehead ahead of Holi celebrations...

Hema Malini reacts as an MP smears Gulal on her forehead ahead of Holi celebrations...

People sing and dance while celebrating Holi, the Festival of Colours, in Kathmandu...

People sing and dance while celebrating Holi, the Festival of Colours, in Kathmandu...

Narendra Modi being presented with the autographed tennis racquets of Leander Paes and Martina...

Narendra Modi being presented with the autographed tennis racquets of Leander Paes and Martina...

Widows daubed in colours chant religious hymns as they take part in the Holi celebrations...

Widows daubed in colours chant religious hymns as they take part in the Holi celebrations...

Tourists celebrate Holi in Jodhpur on Wednesday...

Tourists celebrate Holi in Jodhpur on Wednesday...

A child during Holi celebration in Alipurduar on Thursday...

A child during Holi celebration in Alipurduar on Thursday...

Stranded trucks wait for the re-opening of the Jammu-Srinagar highway, at Nandni near Jammu...

Stranded trucks wait for the re-opening of the Jammu-Srinagar highway, at Nandni near Jammu...

Tennis star and ambassador of Earth Hour 2015, Sania Mirza signs a poster during a press meet...

Tennis star and ambassador of Earth Hour 2015, Sania Mirza signs a poster during a press meet...

People watching the wreckage of the Jaguar fighter aircraft...

People watching the wreckage of the Jaguar fighter aircraft...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523