SpiceJet 1QFY2011 net profit doubles

SpiceJet reports the following financial highlights for the three months ended 30-Jun-2010 (Hindu Business Line/Economic Times, 27/28-Jul-2010):

• Operating revenue: USD151.6 million, +34.7% year-on-year;
• Costs:
  • Fuel: n/a, +30%;
• Net profit: USD11.8 million, +110%;
• Passenger numbers: n/a, +29%;
• Seat factor: 88%, +12 ppts;
• Revenue per passenger: USD73.50, +4%;
• Cash reserve: USD2.7 million;
• Domestic market share: 13%;
• FY2011 forecast:
  
  • Revenue: +15% to +20%.

SpiceJet: "Robust demand coupled with healthy fare and the fact that the airline reported an 88% load factor as compared to the industry average of about 81 per cent has helped us perform well. Fuel costs increased by about 30% during the quarter but the other positive factors helped us report good results," Samyukth Sridharan, Chief Commercial Officer. Source: Hindu Business Line, 27-Jul-2010.