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SpiceJet increases its marketshare, posts profit

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SpiceJet saw growth in passenger traffic and a further increase in market share to 18.6 per cent by June 30, 2012. Revenue for the first quarter ended June 30, 2012 increased by 51 per cent to Rs 1407 crore as compared to Rs 931 crore of the quarter ended June 30, 2011. SpiceJet has also returned to profitability after five successive quarters of losses. The average revenue per passenger in the quarter under review increased 24 per cent as compared to the corresponding quarter a year ago. Load factor during the June 2012 quarter was 80.3 per cent up from 78.9 per cent during the same period last year. Though the load factors and yields have been holding firm, the high cost of operations influenced by a weak INR prevented the company from posting even better results.

SpiceJet posted a Profit Before Tax (PBT) of Rs 62.44 crore for the quarter ended June 30, 2012 as against a loss of Rs 71.96 crore for the comparable period last fiscal year.

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