Spicejet profit came down by 77.1 percent in third quarter

Discussion in 'Off-Topic Discussion' started by Sujan Azad Parikh, Feb 12, 2019.

  1. Sujan Azad Parikh

    Sujan Azad Parikh Member

    May 21, 2018
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    SpiceJet, India's cheapest airline, SpiceJet, lost 77.1 per cent to Rs 55 crore during the quarter ended December, 2018, compared to Rs 240 crore in the same period a year ago. With the company increasing competition, Crude Oil Prices are gone hoigh the high prices and forex losses.
    2530 crore total income

    According to filing given by SpiceJet in stock exchanges, its total income increased to Rs 2,530.80 crores during the October-December, 2018 quarter when compared to Rs 2,096.1 crores during the same period a year ago.

    Success in reducing cost

    SpiceJet chairman Ajay Singh said, "ATF (aviation)
    Despite the huge increase in the cost of the turbine fuel, the company has been able to perform well on the shortage of other costs. The company added fuel efficient MAX aircraft during this time. "Crude oil prices increased 34 percent in the quarter and rupee fell 11 percent.

    Passenger Yield Increased by 8%

    During the third quarter of the current financial year 2018-19, SpiceJet's standalone net profit was Rs 55.07 crores, which included the results of SpiceJet Merchandise and SpiceJet Technik.
    Passenger Yields registered an increase of 8% during the quarter. SpiceJet was the country's third largest company in terms of market share during the quarter, in which there was no change compared to the previous quarter.

    ~Sujan Azad Parikh