SpiceJet records its highest ever quarterly profit at Rs 240 crore in Q3

 

New Delhi, Feb 7: Low cost carrier SpiceJet has recorded its highest ever quarterly profit of Rs 240 crore in the three months ended December 31, 2017. This Q3 profit is 32% higher than Rs 181.1 crore in same quarter in previous fiscal and also the budget carrier’s 12th successive quarterly profit. This profit increase comes on the back of capacity growth of 14% during this period as against the same quarter last year.
SpiceJet chairman Ajay Singh said: “Twelve successive profitable quarters, record aircraft orders, industry’s best load factor, high on-time performance and constantly exploring new growth avenues – SpiceJet remains firmly on track on its long term growth strategy. This has been yet another great quarter for us and I am very pleased with the exceptional performance of my team.”
“The strong results were aided by a higher passenger load factor and a healthy increase in passenger yields despite a substantial rise of 17% in crude oil prices, a one-time expense of Rs 25 crore and an inflationary increase of 3% in other costs. The company witnessed a 14% increase in its passenger yields (revenue per available seat kilometer) while its average domestic load factor was 95%. SpiceJet has recorded more than 90% load factor for 33 successive months, a feat unparalleled globally,” the airline said in a statement.
SpiceJet reported an operating revenue of Rs 2,081.95 crore in this Q3, up 26.7% from Rs 1,642.4 crore in same quarter previous fiscal.
“SpiceJet became the only airline to commence daily direct operations on the international sector of Ahmedabad-Bangkok. It was also the only player to introduce daily non-stop flights on Delhi-Jodhpur, Jaipur-Jodhpur, Ahmedabad-Varanasi, Kolkata-Jabalpur, Bengaluru-Puducherry and Bengaluru-Bagdogra sectors among others. On UDAN, the Company secured additional 20 routes that will further increase its foot print in regional operations. Some of the exclusive routes awarded to SpiceJet include Delhi-Darbhanga, Mumbai-Darbhanga, Delhi-Pakyong, Chennai-Tanjore, Delhi-Kishangarh among others. The company is close to starting its Delhi-Adampur and Delhi-Kanpur UDAN flights,” the airline said.