[ad_1]
NEW DELHI: SpiceJet on Friday reported a profit of Rs 107 crore this Q3, up almost 360% from a profit of Rs 23.3 crore in same quarter last fiscal.
The airline scrip closed at Rs 39.7 on BSE Friday, up 12.3%, when the broader market was down 0.2%.
The low cost carrier’s total revenue in October-December 2022 was Rs 2,794 crore, up from Rs 2,679 crore in same period previous year.
For the same comparative period, operating expenses were Rs 2,687 crore as against Rs 2,579 crore.
SpiceJet CMD Ajay Singh said: “We exceeded our operational targets and continued with our unmatched performance clocking the highest load factor for every single month in 2022. The (Q3) profits have been driven by a strong performance in both our passenger and cargo businesses. There are renewed signs of recovery and some very positive developments and restructuring initiatives in the immediate offing that would significantly strengthen and deleverage our balance sheet.”
“Air travel has come roaring back touching newer heights and giving a glimpse of the huge potential of the Indian aviation market and we look forward to a robust and exciting 2023,” Singh added.
The airline scrip closed at Rs 39.7 on BSE Friday, up 12.3%, when the broader market was down 0.2%.
The low cost carrier’s total revenue in October-December 2022 was Rs 2,794 crore, up from Rs 2,679 crore in same period previous year.
For the same comparative period, operating expenses were Rs 2,687 crore as against Rs 2,579 crore.
SpiceJet CMD Ajay Singh said: “We exceeded our operational targets and continued with our unmatched performance clocking the highest load factor for every single month in 2022. The (Q3) profits have been driven by a strong performance in both our passenger and cargo businesses. There are renewed signs of recovery and some very positive developments and restructuring initiatives in the immediate offing that would significantly strengthen and deleverage our balance sheet.”
“Air travel has come roaring back touching newer heights and giving a glimpse of the huge potential of the Indian aviation market and we look forward to a robust and exciting 2023,” Singh added.
#Bumper #travel #quarter #SpiceJet #profit #jumps #fourfold #crore
