<p> Budget carrier SpiceJet on Friday posted a net profit of Rs 73.2 crore for the three months ended December.</p>.<p>"This profit is after a non-cash forex charge on account of Ind AS 116 of Rs 75.9 crore without which the profit would have been Rs 149.1 crore," the airline said in a release.</p>.<p>Ind AS 116 or Indian Accounting Standard 116 pertains to leases.</p>.<p>In the 2018 December quarter, the carrier recorded a profit of Rs 55.1 crore.</p>.<p>Operational revenue in the latest December quarter climbed 47 per cent to Rs 3,647.1 crore. In the year-ago period, the same stood at Rs 2,486.8 crore.</p>.<p>SpiceJet Chairman and Managing Director Ajay Singh said the airline has done remarkably well in the latest quarter, despite a substantial profit hit from the grounding of MAX aircraft.</p>.<p>Last year, Boeing 737 MAX planes were grounded worldwide in the wake of two fatal crashes involving the aircraft.</p>.<p>"We were expecting the MAX to return to service by January 2020 but that hasn't happened.</p>.<p>"The continued grounding and the delay in its return to service has undoubtedly hit our growth plans adversely and resulted in inefficient operations and increased costs," Singh said.</p>.<p>SpiceJet is the only domestic carrier having MAX aircraft in its fleet. The budget airline grounded 13 such planes in March last year.</p>.<p>Singh said the airline expects to grow profitably, while maintaining a tight control over costs.</p>
<p> Budget carrier SpiceJet on Friday posted a net profit of Rs 73.2 crore for the three months ended December.</p>.<p>"This profit is after a non-cash forex charge on account of Ind AS 116 of Rs 75.9 crore without which the profit would have been Rs 149.1 crore," the airline said in a release.</p>.<p>Ind AS 116 or Indian Accounting Standard 116 pertains to leases.</p>.<p>In the 2018 December quarter, the carrier recorded a profit of Rs 55.1 crore.</p>.<p>Operational revenue in the latest December quarter climbed 47 per cent to Rs 3,647.1 crore. In the year-ago period, the same stood at Rs 2,486.8 crore.</p>.<p>SpiceJet Chairman and Managing Director Ajay Singh said the airline has done remarkably well in the latest quarter, despite a substantial profit hit from the grounding of MAX aircraft.</p>.<p>Last year, Boeing 737 MAX planes were grounded worldwide in the wake of two fatal crashes involving the aircraft.</p>.<p>"We were expecting the MAX to return to service by January 2020 but that hasn't happened.</p>.<p>"The continued grounding and the delay in its return to service has undoubtedly hit our growth plans adversely and resulted in inefficient operations and increased costs," Singh said.</p>.<p>SpiceJet is the only domestic carrier having MAX aircraft in its fleet. The budget airline grounded 13 such planes in March last year.</p>.<p>Singh said the airline expects to grow profitably, while maintaining a tight control over costs.</p>