SpiceJet flies high, stock zooms over 11% on robust earnings

Shares of budget airline SpiceJet today soared by over 11 per cent after the company reported a net profit of Rs 238 crore for the three months to December, logging profit for the fourth straight quarter.
The stock ended the day with a sharp gain of 11.22 per cent at Rs 78.80 on BSE. During the day, it zoomed by 14.89 per cent to Rs 81.40.
The company added Rs 476.67 crore in market valuation to to Rs 4,723.67 crore.
On the volume front, 395.29 lakh shares of the company changed hands at BSE during the day.
SpiceJet on Friday reported a net profit of Rs 238.40 crore for the December quarter, mainly on the back of lower fuel costs.

This is also the highest-ever quarterly profit recorded by the carrier, which was facing tough times a year ago.

In the 2014 December quarter, the airline had incurred a net loss of Rs 275.03 crore.
Total income from operations jumped to Rs 1,459.95 crore in the latest December quarter as against Rs 1,311.18 crore in the year-ago period.
"This is the fourth consecutive profitable quarter for SpiceJet since its turnaround after December 2014," SpiceJet had said in a statement.