Friday, February 21, 2020
News

SpiceJet reports net profit of Rs 73 crore in Q3 FY20

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Gurugram (Haryana) | February 14, 2020 3:41:37 PM IST
Low-cost carrier SpiceJet on Friday reported a profit of Rs 73 crore for the quarter ending December 31, 2019 as against Rs 55 crore in the same quarter last year.

This profit is after a non-cash forex charge on account of IND-AS116 of Rs 75.9 crore without which the profit would have been Rs 149.1 crore, the airline said in a statement.

The airline also recorded a 47 per cent rise in the third quarter operational revenue to Rs 3,647 crore as against Rs 2,487 crore for the same quarter last year as the airline added more destinations and expanded its fleet of passenger and freighter aircraft.

For the same comparative period, expenses were Rs 3,844 crore as against Rs 2,476 crore. On an EBITDA basis, SpiceJet reported a profit of Rs 659 crore. On an EBITDAR basis, the company reported a profit of Rs 762 crore.

Despite the challenges that the airline is facing in terms of additional costs incurred, compounded by the continued grounding of its 737 MAX aircraft, the airline's capacity grew by 59 per cent in 2019.

With average domestic load factor for the quarter at 91.9 per cent, SpiceJet has recorded over 90 per cent load factor for 56 successive months.

"Despite facing an unprecedented crisis following the grounding of the MAX in March last year,SpiceJet grew by close to 60 per cent in 2019 demonstrating its ability to stand up to a crisis," said Chairman and Managing Director Ajay Singh.

SpiceJet operates 600 average daily flights to 63 destinations, including 54 domestic and 9 international ones.

The airline has a fleet of 82 Boeing 737, 32 Bombardier Q-400s and five B737 freighters and is the country's largest regional player operating 49 daily flights under UDAN or the Regional Connectivity Scheme.

(ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
'Co-living, co-working gets higher rents...
OYO strengthens focus on information sec...
COVID-19 likely to hit demand, revenues ...
Hindujas, Cerberus may pick up stakes in...
US stocks open lower after Fed releases ...
Vigilant on potential generalisation of ...
More...
 
INDIA WORLD ASIA
Virus cases cross 75k, worries in Japan ...
Kamal Nath questions Modi's claims on su...
Vajpayee, Advani were unhappy over filin...
Delhi HC allows Crime Branch to quiz San...
SAP shuts India offices after swine flu ...
Confusion over Trump's Ashram visit (Lea...
More...    
 
 Top Stories
1st Test: Top order collapse leaves... 
SIMS Hospital gives a new lease of ... 
Australia is focused on winning gam... 
Uddhav Thackeray to meet PM Modi, S... 
NGT asks Delhi Jal Board to file de... 
Pakistan to stay on FATF's grey lis... 
CCB Bengaluru raids spa centre runn... 
Shopowner shot dead by bike borne-a...