SpiceJet posts standalone net profit of Rs 23 cr in Q3, stock jumps 8%

The passenger industry witnessed the much needed turnaround in the third quarter as Covid cases ebbed in the first half of the quarter, says SpiceJet chief

SpiceJet on Tuesday reported a consolidated profit of Rs 42.45 crore for the three months ended December 2021 as higher passenger traffic and improved performance of the logistics segment propelled the airline into the black.

The no-frills carrier, which is currently going through turbulent times, had a consolidated loss of Rs 66.78 crore in the year-ago period.

Total income in the latest December quarter climbed to Rs 267.73 crore compared to Rs 187.06 crore in the same period a year ago, according to a regulatory filing.

On a standalone basis, the airline recorded a profit of Rs 23.28 crore for the third quarter