SpiceJet tumbles after Q2 earnings

SpiceJet fell 4.21% to Rs 47.80 at 10:31 IST on BSE after the company reported net profit of Rs 23.77 crore in Q2 September 2015 as against net loss of Rs 310.45 crore in Q2 September 2014.

The result was announced on Thursday, 12 November 2015.

Meanwhile, the BSE Sensex was down 198 points, or 0.77%, to 25,668.95.

On BSE, so far 80.91 lakh shares were traded in the counter, compared with an average volume of 83.53 lakh shares in the past one quarter.

The stock hit a high of Rs 49.10 and a low of Rs 47 so far during the day. The stock hit a 52-week high of Rs 53.30 on 10 November 2015. The stock hit a 52-week low of Rs 11.25 on 16 December 2014.

The stock had outperformed the market over the past one month till 11 November 2015, rising 70.31% compared with 4.48% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 99.20% as against Sensex's 7.17% decline.

The small-cap company has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.

SpiceJet's net sales declined 27.37% to Rs 1029.12 crore in Q2 September 2015 over Q2 September 2014.

On an EBITDA (earnings before interest, taxes, depreciation and amortization) basis, SpiceJet reported a profit of Rs 75.20 crore in Q2 September 2015 against a loss of Rs 239.30 crore in Q2 September 2014. On an EBITDAR (earnings before interest, taxes, depreciation, amortization and rent/restructuring costs) basis, the company reported a profit of Rs 244.70 crore in Q2 September 2015, higher than a profit of Rs 20.30 crore in Q2 September 2014. These results reflect a restructuring gain of Rs 65 crore and a currency re-evaluation loss of Rs 23 crore, the company said.

This is the third consecutive profitable quarter for SpiceJet. The airline recorded a load factor of 92.8% for the quarter, the highest in the industry. This load factor reflects an increase of 12% over the same period last year, the company added.

SpiceJet is India's #2 low fare airline that has made flying more affordable for more Indians than ever before. SpiceJet operates 291 daily flights to 40 destinations, including 34 domestic and 6 international ones. SpiceJet connects its network with fleet of 25 Boeing 737NG and 2 Airbus A320 family aircraft, along with 14 Bombardier Q-400s. The majority of SpiceJet's fleet offers SpiceMAX, the most spacious economy class seating in India and perhaps the world.

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