SpiceJet gets profit tailwind, stock flies nearly 16%

Shares of SpiceJet advanced by nearly 16 per cent today as the company's net profit more than doubled to Rs 149 crore in the three months to June.
The stock zoomed 15.88 per cent to settle at Rs 65.30 on BSE. During the day, it jumped 19.96 per cent to Rs 67.60.
The company added Rs 537.41 crore at Rs 3,914.41 crore in market capitalisation.
On the volume front, 234.66 lakh shares of the company changed hands at BSE during the day.
No-frills airline SpiceJet's net profit more than doubled to Rs 149.03 crore in the three months to June, helped by higher income and increased passenger numbers.

This is the "sixth consecutive profitable quarter" after challenges faced by the company in December 2014 and the change in management as well as control, SpiceJet said in a filing to BSE today.
The carrier had a net profit of Rs 72.97 crore in April-June of 2015.
Total income from operations rose to Rs 1,521.53 crore in the first quarter of the current fiscal, from Rs 1,113 crore in the year-ago period, the filing stated.