SpiceJet registers reports highest-ever Q2 profit in its history
SpiceJet has reported a profit of INR 105.3 crore for the three months ended September 30, 2017 as against INR 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 per cent against a capacity growth of 22 per cent during this period as against the same quarter last year. This is SpiceJet’s highest Q2 profit in its history of operations.
SpiceJet reported an operating revenue of INR 1814.3 crore in the quarter. On an EBITDA basis, SpiceJet reported a profit of INR 180 crore. On an EBITDAR basis, the company reported a profit of INR 421.6 crore.
SpiceJet also reported the highest passenger load factor amongst all airlines in the country all through the quarter. The company witnessed seven per cent increase in its passenger yields (Revenue per Available Seat Kilometer), while its average load factor across the network was 93.1 per cent. SpiceJet has recorded more than 90 per cent load factor for 30 successive months. Significantly the quarter also marked the fifth consecutive month when the airline’s domestic load factors have been in excess of 94 per cent.
Ajay Singh, CMD, SpiceJet said, “This has been yet another great quarter for us and I am very pleased with the exceptional performance of my team. Every quarter SpiceJet has a story which further underscores our extraordinary turnaround. 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 11 successive profitable quarters, path-breaking initiatives, record aircraft orders and exploring new growth avenues through UDAN, I can say that we have just begun.”
The quarter also saw SpiceJet launch its 50th destination – Dibrugarh – further strengthening the airline’s focus on North-East India as the airline now operates 26 daily flights in and out of North East.