SpiceJet rose 4.14% to Rs 27.70 at 12:05 IST on BSE, after the company reported net profit of Rs 71.85 crore in Q1 June 2015 as compared to net loss of Rs 124.10 crore in Q1 June 2014.
The result was announced after trading hours yesterday, 28 July 2015.
Meanwhile, the S&P BSE Sensex was up 38.19 points or 0.14% at 27,497.42
On BSE, so far 1.49 crore shares were traded in the counter as against average daily volume of 25.05 lakh shares in the past one quarter.
The stock hit a 52-week high of Rs 28.35 in intraday trade today, 29 July 2015 so far during the day. The stock hit low of Rs 26.80 so far during the day. The stock had hit a 52-week low of Rs 11.10 on 13 August 2014.
The stock had outperformed the market over the past one month till 28 July 2015, rising 42.63% compared with Sensex's 1.27% decline. The scrip also outperformed the market in past one quarter, gaining 43.01% as against Sensex's 0.23% gain.
The small-cap airliner has equity capital of Rs 599.45 crore. Face value per share is Rs 10.
SpiceJet's total income fell 33.6% to Rs 1133.04 crore in Q1 June 2015 over Q1 June 2014.
SpiceJet said that the airline's profit for the Q1 June 2015 was slightly suppressed due its wet-lease operations which are by nature more expensive than conventional leases, and by a weaker rupee relative to previous year. The wet lease aircraft were taken up to address the short-term capacity shortage arising out of aircraft unavailability and the desire to rebuild the network as quickly as possible, and it is expected that these will be replaced by traditional dry-lease aircraft in the coming months, the company said.
SpiceJet recorded a load factor of 89.8% in Q1 June 2015, the highest in the industry. This load factor reflects an increase of 14.8% over the same period last year. In line with year-on-year capacity reduction of 33% that was driven by fleet reductions in late 2014, the airline's revenue for the quarter was down 34% relative to same period last year, SpiceJet said. Costs for the Q1 June 2015 were down 42% relative to same period last year. On a unit basis, revenue per available seat kilometer (RASK) was flat year-on-year, while cost per available seat kilometer (CASK) was down 13%., SpiceJet said.
Ajay Singh, Chairman, SpiceJet said that the company will continue to focus on growth and on getting operational reliability and on-time performance back to world class standards.
SpiceJet is India's number two low fare airline. The company operates 250 daily flights to 41 destinations, including 34 Indian and 7 international.
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