Private air carrier SpiceJet today said it has posted a net profit of Rs 27.50 crore for the January-March quarter of 2009-10 fiscal.
It had a loss of Rs 7.8 crore in the corresponding period in FY09, SpiceJet said in a statement.
For the fiscal 2009-10, the airline reported a net profit of Rs 61.4 crore. It had a loss of Rs 352.5 crore in the previous financial year.
"Our robust performance is a combination of investments in customer service and brand - resulting in significant improvement in service delivery," SpiceJet Chief Executive Officer Sanjay Aggarwal said.
In 2009-10, the carrier saw a 44 per cent increase in traffic whereas the total air traffic increased only by 16 per cent, it said.
SpiceJet expects the demand to continue to be robust in the current fiscal. It forecast 14-16 per cent domestic demand growth in the industry.
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The airline said it plans to induct five aircrafts during this year to capitalise on this demand.
SpiceJet has received government approval to fly to several SAARC countries and is in the process of planning and launching services to these countries, it said.