 "SpiceJet hits two-year high on strong Q1 results")
Shares of SpiceJet have surged nearly 6% to Rs 28.10, its highest level since August 2013 on the BSE in early morning trade, after the company has posted a net profit of Rs 72 crore for the quarter ended June 2015 (Q1), owing to lower fuel prices, improved fleet utilisation and renegotiation of contracts.
The airline had reported a loss of Rs 124 crore for the year-ago period. Its revenue for the quarter however fell 34% to Rs 1,106 crore from Rs 1,678 crore in the corresponding period last year.
For the quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 126 crore, against Rs 43 crore in the corresponding quarter last year. The Ebitda margin stood at 13.8%, SpiceJet said in a statement.
At 09:18 hours, the stock was up 5% at Rs 27.95 and has seen 2.3 million shares changed hands on the counter on the BSE. Meanwhile, in past one-week the stock rallied 24% from Rs 22.55 on July 22, as compared to 3.5% fall in the S&P BSE Sensex.
The airline had reported a loss of Rs 124 crore for the year-ago period. Its revenue for the quarter however fell 34% to Rs 1,106 crore from Rs 1,678 crore in the corresponding period last year.
For the quarter, earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 126 crore, against Rs 43 crore in the corresponding quarter last year. The Ebitda margin stood at 13.8%, SpiceJet said in a statement.
At 09:18 hours, the stock was up 5% at Rs 27.95 and has seen 2.3 million shares changed hands on the counter on the BSE. Meanwhile, in past one-week the stock rallied 24% from Rs 22.55 on July 22, as compared to 3.5% fall in the S&P BSE Sensex.
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