SpiceJet net soars 80 per cent in September-quarter profit

SpiceJet SpiceJet reported a 79 percent rise in quarterly profit on Monday, helped by an increase in passenger yield.

Published: 13th November 2017 03:17 PM  |   Last Updated: 14th November 2017 07:47 AM   |  A+A-

By Reuters

NEW DELHI : Low-cost airline SpiceJet continued to cement its turnaround, recording its 11th straight profitable quarter between July and September 2017. The airline posted a net profit of Rs 105.3 crore for the three months ended September, up nearly 80 per cent year-on-year. According to a SpiceJet statement, revenues rose 30 per cent to Rs 1,814.3 crore and capacity grew 22 per cent during the quarter under review. Its strong performance during the second quarter of the financial year has been underpinned by robust operational metrics such as load factor. 

SpiceJet reported a seven per cent increase in its passenger yields (revenue per available seat kilometre) while its average load factor across the network was 93.1 per cent. “SpiceJet has recorded more than 90 per cent load factor for 30 successive months, a feat unparalleled globally,” the airline said.

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