SpiceJet Q3 net down 13

Budget carrier SpiceJet today reported a decline of 13.31 per cent in its net profit,which stood at Rs 94.44 crore for the October-December,2010 quarter due to higher costs of fuel and other operating expenses.

The carrier had reported a net profit of Rs 108.94 crore during the corresponding quarter of 2009-10,it said in a statement. According to the data filed by the company to the BSE,operating expenses of the airline were Rs 619.23 crore during the quarter,registering an increase of 34.58 per cent,against Rs 460.11 crore for the same quarter of 2009-10.

SpiceJet CEO Neil Mills said,During these three months,we have firmed up our future expansion plans with our fresh aircraft orders and have been preparing the ground for the rapid expansion planned over the next 3 years. He added that the company had posted its highest quarterly load factor of 87.8 per cent during this quarter.