SpiceJet gets 3 months extension to hold AGM

NEW DELHI: Budget carrier SpiceJet today said it has received 3-month extension from the Registrar of Companies (NCT of Delhi & Haryana) to hold its 32nd Annual General Meeting, which can now be held by December.

" The Company has obtained extension of three months for conducting its 32nd Annual General Meeting from the Registrar of Companies (NCT of Delhi & Haryana) under Section 96 of the Companies Act, 2013," SpiceJet said in a regulatory filing today.

The extension was sought in view of the airline adopting new accounting standards, a SpiceJet spokesperson said.

Indian Accounting Standards (Ind AS) which is converged with International Financial Reporting Standards (IFRS), has been made mandatory for certain class of companies starting April 1, 2016.

The Gurgaon-based carrier reported a net profit of Rs 149.03 crore in the three months to June, helped by higher income and increased passenger numbers.

The carrier had a net profit of Rs 72.97 crore in the April-June quarter of 2015.

This was the sixth consecutive profitable quarter for the SpiceJet after the change in management as well as control in January 2015.