SpiceJet Q1 net down at Rs 50.5 crore

Total income stands at Rs 1,704 crore as against Rs 1,467 crore year-on-year basis

SpiceJet, one of the major aviation players in domestic market, has reported a net proft of Rs 50.5 crore.

The first quarter performance report of the carrier shows that the company's net profit has come down as compared to the previous Rs 56.2 crore year-on-year basis.

The total income of the company stands at Rs 1,704 crore as against Rs 1,467 crore year-on-year basis.

As the Air Turbine Fuel (ATF) prices continue to hurt its operations across destinations, the company is set to improt ATF anytime soon.

The ATF import, it is expected, will cut down the fuel purchase bill of the company to a substantial level.

The company's operating margin has also increased 5.5% from previous 5.2% year-on-year basis. Share of international routes has gone up to 11%, thus, driving the profitability.

Profitability will improve in FY14, said a company statement.

Besides, the company expects its market share to remain stable at 20%.