SpiceJet shares end over 2% up post robust Q1 earnings

Shares of budget carrier SpiceJet ended over 2 per cent higher today after the company posted second straight quarterly profit at Rs 71.8 crore for the three months ended June, 2015.
After surging 6.57 per cent to Rs 28.35 -- its one-year high level -- in intra-day trade at the BSE, shares of the company finally ended at Rs 27.25, up 2.44 per cent.
"... Rally in SpiceJet could be attributed to the Q1 numbers reported by the airline," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio Ltd.
In the previous session also, the stock had gained nearly 6 per cent.

SpiceJet, which was on the verge of closure late last year, yesterday posted second straight quarterly profit at Rs 71.8 crore for the three months ended June, 2015 on lower expenses and higher seat occupancy.
Announcing the quarterly earnings, the Gurgaon-based airline also said that it plans to buy new aircraft for fleet expansion. The low-cost carrier had posted a net loss of Rs 124.1 crore in the April-June quarter of 2014-15 fiscal.
Snapping seven-straight quarters of loss, the budget carrier returned to the black with Rs 22.1 crore net profit in the three months ended March, 2015 after original promoter Ajay Singh took control.