Forex, aircraft sale add to SpiceJet profit

New Delhi: Thanks to the net foreign exchange gain and sale of two aircraft, low-cost carrier SpiceJet reported a net profit of Rs 18.5 crore for April-June quarter, compared with a loss of Rs 3.4 crore in the same period last year.
Total income for the three-month period rose 77% at Rs 311 crore, against Rs 176 crore in the same quarter last year. The company benefited Rs 20.6 crore due to a net foreign exchange gain on outstanding liabilities.
During the quarter, the low-cost carrier registered a Rs 12.7-crore profit from the sale of two aircraft. The company said it has been able cut down cost to Rs 2.35 from Rs 2.70 per seat/km.
31/07/07 Times of India

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Categories: SpiceJet Jul 2007