SpiceJet Q3 net profit soars 21% to Rs 78 crore despite 737 MAX troubles

SpiceJet Q3 net profit soars 21% to Rs 78 crore despite 737 MAX troubles

SpiceJet reported growth in air transport services during the December quarter, as segment results for the period almost doubled to Rs 115.05 crore from Rs 58.55 crore from the year-ago period

Advertisement
Representative imageRepresentative image
BusinessToday.In
  • Feb 14, 2020,
  • Updated Feb 14, 2020 4:24 PM IST

SpiceJet has posted a 21 per cent increase on annual basis in its net profit for the quarter ended December 31, 2019. The carrier reported the net profit of Rs 77.96 crore for the quarter under review, as opposed to Rs 64.44 crore in the year-ago period.

SpiceJet saw its total revenue from operations grow to Rs 3,656.36 crore during Q3 FY20, up 46.92 per cent from Rs 2,488.57 crore in Q3 FY19. Meanwhile, total expenses increased 55.93 per cent annually to Rs 3,848.61 crore in December quarter this fiscal, as against Rs 2,468.16 crore in the corresponding quarter last year. During the December quarter, its Earnings Before Interest, Tax, Depreciation, Amortisation and Rent (EBITDAR) stood at Rs 761.6 crore, whereas the EBITDA was Rs 659.2 crore.

Advertisement

Segment-wise, SpiceJet reported growth in air transport services during the December quarter, as segment results for the period almost doubled to Rs 115.05 crore from Rs 58.55 crore from the year-ago period. However, freighter and logistics services suffered during the quarter under review as losses in the segment broadened to Rs 41.83 crore from Rs 3.47 crore.

Indian aviation to continue its losing streak in FY20

SpiceJet has posted a 21 per cent increase on annual basis in its net profit for the quarter ended December 31, 2019. The carrier reported the net profit of Rs 77.96 crore for the quarter under review, as opposed to Rs 64.44 crore in the year-ago period.

SpiceJet saw its total revenue from operations grow to Rs 3,656.36 crore during Q3 FY20, up 46.92 per cent from Rs 2,488.57 crore in Q3 FY19. Meanwhile, total expenses increased 55.93 per cent annually to Rs 3,848.61 crore in December quarter this fiscal, as against Rs 2,468.16 crore in the corresponding quarter last year. During the December quarter, its Earnings Before Interest, Tax, Depreciation, Amortisation and Rent (EBITDAR) stood at Rs 761.6 crore, whereas the EBITDA was Rs 659.2 crore.

Advertisement

Segment-wise, SpiceJet reported growth in air transport services during the December quarter, as segment results for the period almost doubled to Rs 115.05 crore from Rs 58.55 crore from the year-ago period. However, freighter and logistics services suffered during the quarter under review as losses in the segment broadened to Rs 41.83 crore from Rs 3.47 crore.

Indian aviation to continue its losing streak in FY20

Read more!
Advertisement