August 10, 2017 / 11:29 AM / a month ago

SpiceJet first-quarter profit up about 18 percent

Employees work inside a travel agency office besides a model of a SpiceJet aircraft in Ahmedabad February 14, 2014. REUTERS/Amit Dave/Files

REUTERS - SpiceJet Ltd posted a rise of about 18 percent in quarterly net profit on Thursday.

The airline's standalone net profit, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, came in at 1.75 billion rupees ($27.33 million) in the first quarter ended June 30, compared with 1.49 billion rupees a year ago(bit.ly/2vltkYI).

Passenger yields, a measure of fares and distance flown, rose 9 percent during the quarter, while average load factor was 94.07 percent.

($1 = 64.04 Indian rupees)

Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Sherry Jacob-Phillips and Saumyadeb Chakrabarty

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