Spicejet back in black,profit up Rs 56 cr

After being in red for 5 consecutive quarters,budget carrier Spicejet flew back into profitability.

Written by Agencies | Mumbai | Published: July 30, 2012 3:24:21 pm

After being in the red for five consecutive quarters,budget carrier Spicejet flew back into profitability reporting a net profit of Rs 56 crore in the June quarter as against a loss of Rs 71.96 crore a year ago,on the back of significant growth in sales and better yields.

The Chennai-based Kalanithi Maran-promoted carrier also posted a 51 percent growth in sales at Rs 1,406.74 crore in the April-June quarter,compared to Rs 930.75 crore y-o-y,a statement from the airline said.

The average revenue per passenger during the reporting quarter increased 24 percent,while the number of passengers carried rose 26 percent.

Besides,the seat factor also rose to 80.3 percent from 78.9 percent,the company said,adding the period also saw its market share increasing by 1.5 percentage points to 18.6 percent.

Though the load factors and yields have been holding firm,the high cost of operations influenced by a weak the rupee prevented the company from posting even better results,it said.

Prohibitively expensive fuel prices continue to adversely impact the civil aviation sector,it said,adding that though international crude prices have softened in recent weeks,the domestic carriers are yet to realise the benefits of such reduced input costs of the fuel.

In addition,the industry has also absorbed significant increases in airport charges at the Delhi airport,the company said.

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