November 13, 2017 / 9:38 AM / a year ago

SpiceJet posts 79 percent surge in September-quarter profit

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

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

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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