SpiceJet Q1 net profit doubles to Rs 149 crore

SpiceJet Q1 net profit doubles to Rs 149 crore

SpiceJet Q1 net profit doubles  to Rs 149 crore

Reporting a sixth consecutive profitable quarter, low-cost carrier SpiceJet on Wednesday said that its net profit more than doubled to Rs 149.03 crore in the first quarter of 2016-17.

The net profit in the first quarter of last fiscal was Rs 72.97 crore, and it has risen 104% this time, a statement from the airline said.

The increase in net profit is attributed to higher income and increased passenger numbers.  “This is the sixth consecutive profitable quarter for SpiceJet after the challenges faced by the company in December 2014 and the change in management and control,” the statement said.

According to a filing at the BSE, the operating revenue of SpiceJet was Rs 1,521.23 crore, registering a growth of 37% from Rs 1,113 crore.

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