SpiceJet reports eighth consecutive profitable quarter in 3QFY2017

SpiceJet revenue up 13% – financial highlights for three months ended 31-Dec-2016:

• Total operating revenue: INR16,424 million (USD243.5 million), +12.5% year-on-year;
• Total costs: INR15,200 million (USD225.3 million), +25.7%;
• • Fuel: INR4738 million (USD70.2 million), +29.2%;
  • Aircraft lease rentals: INR2429 million (USD36.0 million), +5.9%;
• Operating profit: INR1224 million (USD18.1 million), -51.2%;
• Net profit: INR1811 million (USD26.9 million), -24.5%;
• Load factor: 90.7%. [more - original PR]

*Based on the average conversion rate at INR1 = USD0.014824

SpiceJet: "We have reported our eighth successive profitable quarter despite headwinds. SpiceJet’s dramatic turnaround story has made the world sit up and take notice. Our historic aircraft order signifies the end of the turnaround phase for SpiceJet and marks the beginning of a growth story. This order will help build an even stronger and more profitable airline. We will be relentless in reducing our costs and identifying new avenues for revenue generation," Ajay Singh, Chairman and Managing Director. Source: Company statement, 14-Feb-2017.