SpiceJet flies high, stock soars 13.5% on robust earnings

SpiceJet on Friday reported a net profit of Rs 238.40 crore for the December quarter, mainly on the back of lower fuel costs.

By: PTI | Mumbai | Updated: January 25, 2016 3:25 pm
spicejet, spicejet airways, spicejet profit, spicejet business, spicejet india, spicejet news Shares of SpiceJet on Monday zoomed 13.5 per cent after the company reported a net profit of Rs 238 crore for the December quarter. (File Photo)

Shares of budget airline SpiceJet on Monday zoomed 13.5 per cent after the company reported a net profit of Rs 238 crore for the three months to December, staying profitable for the fourth straight quarter.

After a strong opening, the stock shot up 13.47 per cent to Rs 80.40 on BSE.

SpiceJet on Friday reported a net profit of Rs 238.40 crore for the December quarter, mainly on the back of lower fuel costs.

This is also the highest-ever quarterly profit recorded by the carrier, which was facing tough times a year ago.

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In the 2014 December quarter, the airline had incurred a net loss of Rs 275.03 crore.

Total income from operations jumped to Rs 1,459.95 crore in the latest December quarter as against Rs 1,311.18 crore in the year-ago period.

“This is the fourth consecutive profitable quarter for SpiceJet since its turnaround after December 2014,” SpiceJet had said in a statement.

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