SpiceJet has soared over 6% to Rs 46.75 after reporting a net profit of Rs 102 crore for the third quarter ended December 2012 (Q3) against loss of Rs 39.26 crore in year ago quarter on back of higher operational income and lower fuel cost. The low-cost airline promoted by Kalanithi Maran had reported a loss of Rs 163 crore in previous quarter.
“Total income from operations grew 37% at Rs 1,603 crore from Rs 1,173 crore, while the average passenger yields increased by 29% to Rs 4,412 from Rs 3,421 during the recently concluded quarter,” SpiceJet said in a statement.
Fuel cost as a proportion fell to 45% of the total revenues in December quarter as against 50% in the comparable quarter for the previous year, it added. Fuel costs are the biggest component of an airline's operating cost.
The stock opened at Rs 44.15 and hit a high of Rs 47.30 on BSE. As many as 11.06 million have already changed hands on the counter so far against an average 3.22 million shares that were traded daily in past two weeks.
