SpiceJet registers seventh consecutive profitable quarter, PAT surges 103% YoY

NEW DELHI: SpiceJet on Friday reported 103 per cent rise in net profit at Rs 58.91 crore for the quarter ended September 30, 2016, compared with Rs 29.01 crore profit reported for the corresponding quarter last year. This was the seventh consecutive profitable quarter for the low-cost airline after the challenges it faced in December, 2014 and the change in management and control.

Total income from operations jumped to Rs 1,400.39 crore from Rs 1,029.11 crore reported for the same quarter last year. The airline recorded a passenger load factor of 92.3 per cent in Q2, the highest in the industry.

Chairman and Managing Director Ajay Singh said in a release, “This was the weakest quarter of the year and despite intense competition in the market, SpiceJet has performed exceptionally well. We continue to focus on responsible and profitable growth. We have resolved practically all legacy issues and the stage is set for building our cash reserves and finalising our long-term fleet expansion plans.”


Shares of the company were trading 2.02 per cent higher at Rs 65.70 in the last leg of trade, while the BSE Sensex was up 463.16 points, or 1.79 per cent, at 26,323.