SpiceJet marks its highest-ever Q2 profit
November 13, 2017: SpiceJet reported a profit of Rs 105.3 crore for the three months ended September 30, 2017 as against Rs 58.9 crore in the same quarter last year, making it the 11th successive profitable quarter for the airline.
November 13, 2017: SpiceJet reported a profit of Rs 105.3 crore for the three months ended September 30, 2017 as against Rs 58.9 crore in the same quarter last year, making it the 11th successive profitable quarter for the airline. In the seasonal weak quarter, profits grew by 80 percent against a capacity growth of 22 percent during this period as against the same quarter last year. This is SpiceJet’s highest ever Q2 profit in its history of operations.
SpiceJet reported an operating revenue of Rs 1814.3 crore in the quarter. On an EBITDA basis, SpiceJet reported a profit of Rs 180 crore. On an EBITDAR basis, the company reported a profit of Rs 421.6 crore.
On operational parameters, SpiceJet reported the highest passenger load factor amongst all airlines in the country, through the quarter. The company witnessed a 7 percent increase in its passenger yields (revenue per available seat kilometer) while its average load factor across the network was 93.1 percent. SpiceJet has recorded more than 90 percent load factor for 30 successive months, a feat unparalleled globally. Significantly the quarter also marked the fifth consecutive month when the airline’s domestic load factors have been in excess of 94 percent.
Ajay Singh, CMD, SpiceJet said, “We launched new flights on maiden routes and further emphasised our commitment for UDAN as we introduced our fourth daily flight under the scheme. Even with eleven successive profitable quarters, path-breaking initiatives, record aircraft orders and exploring new growth avenues through UDAN, I can say that we have just begun.”