New Delhi: Staying profitable for the third consecutive quarter, low-cost carrier SpiceJet today reported a net profit of Rs 23.77 crore in the three months ended September driven by a steep fall in fuel costs and other expenses.
The no-frills carrier, which saw the return of its original promoter Ajay Singh at the helm earlier this year, had a net loss of Rs 310.45 crore in 2014 September quarter.
The airline has flown into the black despite its total income from operations declining over 28 per cent to Rs 1,040.13 crore in July-September of the current fiscal, according to a release.
In year-ago period, the same stood at Rs 1,449.94 crore.
SpiceJet benefited from over a 57 per cent drop in jet fuel bill, which fell to Rs 337.78 crore in the quarter under review. In the same period a year ago, the bill stood at Rs 787.71 crore.
12/11/15 Business Standard
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The no-frills carrier, which saw the return of its original promoter Ajay Singh at the helm earlier this year, had a net loss of Rs 310.45 crore in 2014 September quarter.
The airline has flown into the black despite its total income from operations declining over 28 per cent to Rs 1,040.13 crore in July-September of the current fiscal, according to a release.
In year-ago period, the same stood at Rs 1,449.94 crore.
SpiceJet benefited from over a 57 per cent drop in jet fuel bill, which fell to Rs 337.78 crore in the quarter under review. In the same period a year ago, the bill stood at Rs 787.71 crore.
12/11/15 Business Standard
