SpiceJet reports second consecutive profitable quarter in 1QFY2016

SpiceJet revenue down 34% - financial highlights for three months ended 30-Jun-2015:

• Total operating revenue: INR11,063 million (USD174.5 million), -34.1% year-on-year;
• Total costs: INR10,356 million (USD163.4 million), -41.9%;
• • Fuel: INR3589 million (USD56.6 million), -53.6%;
  • Aircraft lease rentals: INR1608 million (USD25.4 million), -41.4%;
  • Aircraft maintenance: INR1455 million (USD22.9 million), -23.5%;
  • Labour: INR1159 million (USD18.3 million), -16.4%;
• Operating profit before extraordinary items: INR707.0 million (USD11.2 million), compared to a loss of INR1044 million (USD16.5 million) in p-c-p;
• Net profit: INR718.5 million (USD11.3 million), compared to a loss of INR1241 million (USD19.6 million) in p-c-p;
• Load factor: 89.8%. [more - original PR]

*Based on the average conversion rate at USD1 = INR63.3878

SpiceJet: "We are working hard to build a world class airline again. These results show that we are on the right path. This is the second consecutive profitable quarter and I am proud of what we have achieved. But there is still a long way to go. I am confident that the best is still ahead of us. We will continue to focus on growth and on getting operational reliability and on-time performance back to world class standards. We need to strengthen SpiceJet so that it is able to take advantage of the enormous opportunities that will come its way in the coming years," Ajay Singh, Chairman. Source: Company statement, 28-Jul-2015.