SpiceJet has reported a
net profit of Rs 56 crore for the first quarter ended June 30, after
hovering in losses for five consecutive quarters.
The budget carrier reported the rise on the back of significant growth in sales and better yields.
For the first quarter of 2012-13, the carrier posted 51 per cent growth in sales at Rs 1,406.74 crore compared to Rs 930.75 crore.
The
average revenue per passenger during the reporting quarter increased 24 per cent, while the number of passengers carried rose by 26 per cent.
SpiceJet, promoted by Kalanithi Maran, had posted a net loss of Rs 71.96 crore in the same period in 2011-12.
Besides, the seat factor also rose to 80.3 per cent from 78.9 per cent, the company said, adding its market share increased by 1.5 percentage points to 18.6 per cent during the quarter.
Though the load factors and yields have been holding firm, the high cost of operations influenced by a weak the rupee prevented the company from posting even better results, SpiceJet said.
Prohibitively expensive fuel prices continue to adversely impact the civil aviation sector, the budget carrier said, adding that though international crude prices have softened in recent weeks, the domestic carriers are yet to realise the benefits of such reduced input costs of the fuel.
In addition, the industry has also absorbed significant increases in airport charges at the Delhi airport, it added.
Shares of the airlines jumped 22.42 per cent higher on the Bombay Stock Exchange at Rs 30.85.
With inputs from PTI 
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