SpiceJet shares fly 20% after net profit more than doubled in Q1

Shares of SpiceJet spurted 20 per cent to hit its upper circuit after the aviation major reported 104 per cent jump in its net profit at Rs 149 crore in the June quarter.

By BT Online  
Wednesday, September 7, 2016

Shares of SpiceJet spurted 20 per cent to hit its upper circuit after the aviation major reported 104 per cent jump in its net profit at Rs 149 crore in the June quarter.

The airline had posted Rs 73 crore net profit in the same quarter last year.

Reacting to its upbeat quaterly numbers, the stock of the company gained as much as 19.96 per cent to Rs 67.60 on the BSE.

The company's capacity registered a growth of 37 per cent over the same quarter last year and operating revenue was Rs 1,522 crores, a growth of 37 per cent.

On an EBITDA basis, SpiceJet reported a profit of Rs 215 crore at 14 per cent EBITDA margin.

"This is the sixth consecutive profitable quarter for SpiceJet after the challenges faced by the Company in December, 2014 and the change in management and control," said the company in a filing to BSE.

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