New international routes will take SpiceJet higher

In the past six months, the stock of India’s most profitable low-cost airline SpiceJet has given a return of about 37% as against the 31% of the benchmark, Sensex. Rising domestic passenger traffic and the launch of international operations have kept the stock buzzing.
Given the encouraging performance of the company in the September 2010 quarter, its stock is likely to see sustained investor interest. It was the fourth consecutive quarter of profits for the company. It reported a net profit of Rs 10.1 crore as against loss of Rs 101.3 crore during the corresponding quarter of the previous year. During the quarter, the airline recorded 16% growth in the number of passengers flown.
The company’s revenue shot up by 35% to Rs 603 crore. On the operational front, earnings before interest, depreciation, tax and rentals (EBIDTAR) jumped by 42% to Rs 492 crore in com-parison with last year’s September quarter .
05/11/10 Rajesh Naidu/Economic Times

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Categories: Foreign Nov 2010, spicejet Nov 2010