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Thursday, 08 February, 2018, 13 : 00 PM [IST]

SpiceJet records 32% increase in profit in Q3 2017

SpiceJet reported a profit of INR 239.99 crore for Q3 2017 ended December 31, 2017 as against INR 181.14 crore in the same quarter last year, making it the 12th successive profitable quarter for the airline. Profits grew by 32% against a capacity growth of 14% during this period as against the same quarter last year.

The company witnessed a 14% increase in its passenger yields (Revenue per Available Seat Kilometer) while its average domestic load factor was 95%. SpiceJet reported an operating revenue of INR 2,081.95 crore in the quarter. On an EBITDA basis, SpiceJet reported a profit of INR 330.73 crore. On an EBITDAR basis, the Company reported a profit of INR 597.04 crore. Total income during the period rose 26% to INR 21,109 crore from INR 16,704 crore in the previous year.

“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,” said, Ajay Singh, CMD, SpiceJet.

Before December 2018, the company plans to add 12 to 15 Boeing 737s and six to nine Bombardier Q400s to its existing fleet of 60 aircraft.
 
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