SpiceJet Q1 result: Net profit at Rs 262 crore, revenue jumps 35% YoY

Operating revenues were at Rs 3,002.1 crore against Rs. 2,220.4 crore for the corresponding quarter last year.

Low cost carrier (LCC) SpiceJet on Friday reported a standalone net profit of Rs 261.7 crore for the June quarter of FY20 Q1FY20), as against a loss of Rs 37.9 crore in the June quarter of FY19. The airline had reported a PAT of Rs 56.3 crore in the March quarter of FY19 (Q4FY19).

This was the airline's biggest ever quarterly profit, as it flew more passengers and raised fares in the wake of the collapse of Jet Airways. The profit was also boosted by other income of Rs 143.2 crore in Q1 (against Rs 32.89 crore) including Rs 114.1