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SpiceJet posts 79 percent surge in September-quarter profit
November 13, 2017 / 9:38 AM / a month ago

SpiceJet posts 79 percent surge in September-quarter profit

REUTERS - SpiceJet Ltd (SPJT.BO) reported a 79 percent rise in quarterly profit on Monday, helped by an increase in passenger yield.

FILE PHOTO: A SpiceJet Boeing 737-800 aircraft taxis on the tarmac after landing at Chhatrapati Shivaji international airport in Mumbai November 26, 2012. REUTERS/Danish Siddiqui/File Photo

The airline’s standalone net profit, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, came in at 1.05 billion rupees ($16.04 million) for the quarter ended Sept. 30, compared with 589.1 million rupees last year.

Net income from operations rose about 30 percent to 17.97 billion rupees.

Passenger yield, a measure of average fare and distance flown, climbed 7 percent, while domestic passenger load factor, which measures how much of an airline’s passenger carrying capacity is used, was in excess of 94 percent.

($1 = 65.4450 Indian rupees)

Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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