SpiceJet soars 10% on 21% YoY rise in net profit; B737 may return this year

On the operational front, Passenger Load Factor came in at 91.9 per cent in Q3, with the fleet size growing to 119 aircraft as on December 31, 2019.

Shares of budget carrier SpiceJet surged as much as 10.27 per cent to Rs 93.4 on the National Stock Exchange (NSE) on Friday after the airline was back in the black and reported a standalone net profit of Rs 73.2 crore in the December quarter of FY20 (Q3FY20), as against Rs 55 crore in the corresponding quarter of the previous fiscal (Q3FY19). The airline had incurred a massive net loss of Rs 462.5 crore in the September quarter of the current fiscal.

The profit was after a non‐cash forex charge on account of IND‐AS116 of Rs 75.9 crore without which the