Business Standard

SpiceJet narrows net loss to Rs 163 cr

Related News

Improved yields, with strict cost control measures, have helped narrow its second quarter losses to Rs 163.5 crore as against Rs 240 crore in the same period last year.

Revenue grew 57 per cent to Rs 1,207 crore on the back of and more optimal utilisation of fleet on high demand revenue generating routes. Revenue per passenger increased 37 per cent. The airline flies 48 planes, including 12 turboprop Bombardier Q400s and has a market share of 18.5 per cent, behind IndiGo, and Air India.

Fuel costs, interest and lease rentals increased but an increase in other income (Rs 11 crore) and non-operating income (Rs 28 crore) helped the airline to boost revenue and contain losses.

"Improved yields, coupled with effective cost controls, helped the company perform better in what is always been a weak quarter for the airline business. Increase in number of international operations and improved fleet management helped us to deliver better numbers for the quarter. Fuel costs and weakened rupee continue to be a cause of worry for aviation sector..but we hope to see better days in the near future,'' said chief executive officer Neil Mills.

On the net profit level the airline fell short of expectations. ICICI Securities had estimated the airline to post a modest net loss of Rs 19.6 crore this quarter on the back of higher revenue and yield improvements. Centre for Asia Pacific's estimate was closer to the actual. CAPA estimated that the airline to post losses of $25-28 million (Rs 132crore -Rs 148 crore).

In its recent research report CAPA had said the losses will increase the funding challenges for the airline.

Read more on:   
|
|
|
|
|
|
|
|
|

SpiceJet narrows net loss to Rs 163 cr

Improved yields, with strict cost control measures, have helped SpiceJet narrow its second quarter losses to Rs 163.5 crore as against Rs 240 crore in the same period last year.

Improved yields, with strict cost control measures, have helped SpiceJet narrow its second quarter losses to Rs 163.5 crore as against Rs 240 crore in the same period last year.

Revenue grew 57 per cent to Rs 1,207 crore on the back of higher fares and more optimal utilisation of fleet on high demand revenue generating routes. Revenue per passenger increased 37 per cent. The airline flies 48 planes, including 12 turboprop Bombardier Q400s and has a market share of 18.5 per cent, behind IndiGo, Jet Airways and Air India.

Fuel costs, interest and lease rentals increased but an increase in other income (Rs 11 crore) and non-operating income (Rs 28 crore) helped the airline to boost revenue and contain losses.

"Improved yields, coupled with effective cost controls, helped the company perform better in what is always been a weak quarter for the airline business. Increase in number of international operations and improved fleet management helped us to deliver better numbers for the quarter. Fuel costs and weakened rupee continue to be a cause of worry for aviation sector..but we hope to see better days in the near future,\'\' said chief executive officer Neil Mills.

On the net profit level the airline fell short of expectations. ICICI Securities had estimated the airline to post a modest net loss of Rs 19.6 crore this quarter on the back of higher revenue and yield improvements. Centre for Asia Pacific\'s estimate was closer to the actual. CAPA estimated that the airline to post losses of $25-28 million (Rs 132crore -Rs 148 crore).

In its recent research report CAPA had said the losses will increase the funding challenges for the airline.

image

Read More

Lupin Q3 net up 43% at Rs 335 cr

Consolidated net sales of the company rose by 38% to Rs 2,465.9 cr

Recommended for you

Advertisements

Quick Links

Results Calendar
Rss icon March 2015 Rss icon
Sun Mon Tue Wed Thu Fri Sat
1234567
891011121314
15161718192021
22232425262728
293031
Results Tracker
Available for 3993 companies
Quarter Dec 2014 Dec 2013 % chg
Sales 1,755,210.91 1,735,510.07 1.14
Op. Profit 432,733.62 424,170.78 2.02
Net Profit 85,449.83 103,639.43 -17.55
Figures in Rs crore

Back to Top