SpiceJet posts 79% surge in Q2 FY18 profit

SpiceJet Ltd reported a 79 percent rise in quarterly profit on Monday, helped by an increase in passenger yield.

The airline`s standalone net profit, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, came in at 1.05 billion rupees ($16.04 million) for the quarter ended Sept. 30, compared with 589.1 million rupees last year.

Net income from operations rose about 30 percent to 17.97 billion rupees.

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Passenger yield, a measure of average fare and distance flown, climbed 7 percent, while domestic passenger load factor, which measures how much of an airline`s passenger carrying capacity is used, was in excess of 94 percent.

($1 = 65.4450 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)