SpiceJet reports 104% jump in net profit; shares fly high
SpiceJet reported a net profit of Rs 149 crore in the quarter ended on June 30 as against Rs 73 crore in the quarter ended on June 30, 2015.
"Profits for the quarter were adversely impacted by rupee depreciation, inflation and the presence of more expensive wet lease aircraft. However, profits outperformed capacity and revenue growth rates", the company said in a regulatory filing.
Capacity deployed registered a growth of 37% over the same quarter last year and operating revenue was Rs. 1,522 crores, a growth of 37%.
This is the sixth consecutive profitable quarter for the company after the turbulence faced in December 2014.
“This quarter’s results further demonstrate the impact of efforts that are being put into strengthening SpiceJet.” said Ajay Singh, Chairman & Managing Director, Spicejet Limited. “We remain focussed on growing responsibly in a growing but a challenging market” he added.
On an EBITDA basis, the company registered a profit of Rs 215 crore at 14% EBITDA margin. On EBITDAR basis, it reported a profit of Rs 474 crore, a margin of 31%.
As per the company's regulatory filing, it recorded a highest passenger load factor of 92.5% in the aviation industry.
The shares of the company closed at Rs 67.60 per piece, up 19.96%, or Rs 11.25 on BSE.