Business Standard

SpiceJet narrows net loss to Rs 163 cr

Related News

, 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 , and .

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 .

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:   
|
|
|
|
|
|
|
|
|

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


Quick Links

Results Calendar
Rss icon April 2014 Rss icon
Sun Mon Tue Wed Thu Fri Sat
12345
6789101112
13141516171819
20212223242526
27282930
Results Tracker
Available for 33 companies
Quarter Mar 2014 Mar 2013 % chg
Sales 62,344.20 49,554.83 25.81
Op. Profit 20,488.93 15,001.25 36.58
Net Profit 13,374.20 9,762.21 37.00
Figures in Rs crore

Back to Top