SpiceJet jumped 10.05% to Rs 20.80 at 11:25 IST on BSE, after the company reported net profit of Rs 22.52 crore in Q4 March 2015 as compared to net loss of Rs 321.51 crore in Q4 March 2014.
The result was announced after trading hours yesterday, 28 May 2015.
Meanwhile, the S&P BSE Sensex was up 263.07 points or 0.96% at 27,777.40
On BSE, so far 39.01 lakh shares were traded in the counter as against average daily volume of 27.85 lakh shares in the past one quarter.
The stock hit a high of Rs 21.30 and low of Rs 19.90 so far during the day. The stock had hit a 52-week low of Rs 11.10 on 13 August 2014. The stock had hit a 52-week high of Rs 25.70 on 25 February 2015.
The small-cap airliner has equity capital of Rs 599.45 crore. Face value per share is Rs 10.
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SpiceJet's total income fell 42.4% to Rs 939.38 crore in Q4 March 2015 over Q4 March 2014.
On an EBITDA basis, SpiceJet reported positive Rs 80 crore in Q4 March 2015, against negative Rs 235 crore in Q4 March 2014. The numbers above include the benefit of renegotiated contracts and settlements, the provisioning for re-delivery expenses, and a net gain on an insurance claim, SpiceJet said.
SpiceJet, which changed hands during the quarter and is now under its original Founder-Director and now Promoter, Chairman, and Managing Director Ajay Singh, has focused on restoring operational reliability and winning back customer confidence to boost revenues, while negotiating settlements and renegotiating several major contracts to bring down costs. The airline ended Q4 March 2015 with a load factor of 81%, which is a historic high for low season, as it continued its strategy of demand stimulation to maximize revenues.
Ajay Singh, Chairman, SpiceJet said that the latest results indicate that a recovery is in progress, and is the first tangible evidence of the ongoing revival.
SpiceJet is India's number two low fare airline. The company operates 245 daily flights to 41 destinations, including 34 Indian and 7 international cities.
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