SpiceJet Q3FY20 Results: Airline's consolidated income rises by 22 pct, Income grows 46 pct; Experts say buy SpiceJet shares
Q3FY20 Results: Spicejet — a leading aviation company operating in India — has announced its Q3FY20 results today.
Q3FY20 Results: SpiceJet has announced its Q3FY20 results today. The leading air carrier company has reported near 22 per cent rise in its consolidated income while its quarterly income has gone northward by around 46 per cent. The aviation company reported its consolidated income at Rs 78 crore which was at Rs 64 crore in the corresponding period.
SpiceJet reported its quarterly income at Rs 3,650 crore that was at Rs 2,487 crore in the corresponding period. So, the robust Q3FY20 numbers of SpiceJet suggests a rise of near 46 per cent in its quarterly income. SpiceJet's earnings before interest, tax, depreciation and amortization (EBITDA) stands at Rs 513 crore which was at Rs 122.5 crore in the corresponding time period.
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Speaking on the impact of SpiceJet strong quarterly results on the SpiceJet shares Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "SpiceJet share has strong support at Rs 81 levels and is poised to go upward and hit Rs 106 per stock levels in the short-term means one to three months time." However, Singre said that while taking buy position in the SpiceJet counter, one must maintain the stop loss at Rs Rs 80.
He also said that one should buy SpiceJet shares at the current market price and keep on adding on every Rs 2 to Rs 3 dips from current levels till it is above Rs 82 per stock levels.
Exactly one month ago on 14th January 2020, SpiceJet had announced the launch of four new flights on its domestic network with a special focus on enhancing connectivity between metros and non-metros. In this announcement, SpiceJet connected Ahmedabad with Aurangabad for the first time on its air network.
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