May 11, 2018 / 8:02 AM / in a year

SpiceJet March-quarter profit rises nearly 11 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 10.8 percent growth in March-quarter profit on Friday, helped by a rise in passenger yields during the period.

The airline's standalone net profit, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, rose to 461.5 million rupees ($6.85 million) in the quarter ended March, from 416.4 million rupees a year earlier, SpiceJet said on Friday.

Passenger yields, a measure of fares and distance flown, rose 8 percent during the quarter. SpiceJet’s market share was the fourth largest in the quarter, according to India’s aviation regulator.

Total income from operations jumped about 25 percent to 20.29 billion rupees.

($1 = 67.3300 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair

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