SpiceJet continues to rise as it posts highest-ever Q1 2019 profit

Darren Wood
By Darren Wood August 12, 2019 09:26

SpiceJet continues to rise as it posts highest-ever Q1 2019 profit

India’s SpiceJet continues to increase its financial standing after reporting its highest-ever net profit of Rs 261.7 crore during the first quarter of the current fiscal year against a loss of Rs 38.1 crore experienced in the same period in 2018.

The airline’s operating revenues stood at Rs 3,002.1 crore, an increase when compared against Rs 2,220.4 crore which the company posted last year.

Meanwhile, SpiceJet’s operating expenses came in at Rs 2,883.6 crore, an improvement on the Rs 2,227.9 crore reported in the corresponding period last year. 

The airline said that its total income rose to Rs 3,145.3 crore for the quarter ending June 2019 as against Rs 2,253.3 crore for the corresponding quarter last year. 

In May, the airline said it predicted a strong year ahead after it posted a 22% jump in fourth-quarter profit compared to the same period last year.

The airline, which recently increased its fleet, continues to be one of the biggest beneficiaries from the collapse of Jet Airways.

Darren Wood
By Darren Wood August 12, 2019 09:26