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SpiceJet losses widen in 2QFY2014; refining network, revenue and costs

8-Nov-2013 10:50 AM

SpiceJet revenue up 6% – financial highlights for three months ended 30-Sep-2013:

  • Revenue: INR12,572 million (USD202.2 million), +6.1% year-on-year;
  • Total costs: INR17,916 million (USD288.2 million), +32.0%;
    • Fuel: INR7111 million (USD114.4 million), +11.1%;
    • Aircraft maintenance: INR3249 million (USD52.3 million), +142%;
  • Profit (loss) from operation before other income, finance costs and exceptional items: (INR5344 million) (USD86.0 million), compared to a loss of INR1721 million (USD27.7 million) in p-c-p;
  • Net profit (loss): (INR5595 million) (USD90.0 million), compared to a loss of INR1698 million (USD27.3 million) in p-c-p;
  • Passenger numbers: +9%;
  • Load factor: 71.8%, +5.5 ppts;
  • Passenger yield: INR3711 (USD59.7), -7%;
  • Total assets: INR31,927 million (USD513.6 million);
  • Cash and bank balances: INR1190 million (USD19.1 million);
  • Total liabilities: INR37,960 million (USD610.6 million). [more - original PR]

*Based on the average conversion rate at USD1 = INR62.1669

SpiceJet: “In order to improve strategic its competitive position, the management is putting in place a strategic plan to refine the network, enhance revenues, rationalize costs and further improve reliability to deliver better value to customers. SpiceJet continues to focus on overall end-to-end service delivery, designing enhancements to the product and eliminating unnecessary ‘pain points’ to make customer experience more pleasant, consistent and hassle free.” Source: Company statement, 07-Nov-2013.