SpiceJet Q1 net profit up 788% at Rs 261.7 cr

SpiceJet Q1 net profit up 788% at Rs 261.7 cr

New Delhi: Benefiting from Jet Airways collapse in April, low-cost carrier SpiceJet posted a record profit of Rs 261.7 crore in the quarter ending June, 2019 as against a net loss of Rs 38.1 crore in the corresponding period last year.

The airline reported total revenue of Rs 3,145.3 crore during April-June period as against Rs 2,253.3 crore in the same period in FY19, registering a growth of 39.5 per cent.

During the three-month period, the airline added 32 aircraft, taking its fleet size to 107 as on June 30, 2019.

“SpiceJet has been on a spectacular growth journey and this quarter, in particular, has been very special for us. We added 32 aircraft to our fleet, expanding at a pace unprecedented for a sector plagued by crisis showcasing our robust business model and proven operational capabilities,” airline Chairman and Managing Director Ajay Singh said. (IANS)

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Sentinel Assam