6-Aug-2013 10:09 AM

SpiceJet reports 'significant' revenue growth in 1QFY2014

SpiceJet revenue up 16% - financial highlights for three months ended 30-Jun-2013:

  • Revenue: INR17,043 million (USD305.8 million), +16.2% year-on-year;
  • Total costs: INR16,419 million (USD294.6 million), +16.9%;
    • Fuel: INR7398 million (USD132.7 million), +10.5%;
    • Aircraft lease rentals: INR2198 million (USD39.4 million), +12.0%;
  • Operating profit before other income, finance costs and exceptional items: INR623.7 million (USD11.2 million), -0.1%;
  • Net profit: INR505.6 million (USD9.1 million), -10.0%;
  • Passenger numbers: +13%;
  • International: +322%;
  • Load factor: 77%, -3 ppts;
  • Passenger yield: INR4278 (USD76.8), +5%. [more - original PR]

*Based on the average conversion rate at USD1 = INR55.7336

SpiceJet: “The company has achieved significant growth in revenues in the current quarter while managing to improve yields on a consistent basis. The company’s operating results continue to be materially affected by various factors, particularly high aircraft fuel costs, significant depreciation in the value of the currency and general economic slowdown. The company believes that the recent amendments to FDI policy will improve the investor sentiment towards the Indian aviation industry. The company believes that these measures will not only result in sustainable cash flows, but also enhance the company’s plan for expansion.” Source: Company statement, 05-Aug-2013.

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