SpiceJet rose 8.40% to Rs 76.65 at 10:26 IST on BSE after the company reported net profit of Rs 238.40 crore in Q3 December 2015 as against net loss of Rs 275.03 crore in Q3 December 2014.
The result was announced at the fag end of the trading session on Friday, 22 January 2016.Meanwhile, the BSE Sensex was up 170.11 points, or 0.70%, to 24,605.77.
On BSE, so far 1.46 crore shares were traded in the counter, compared with an average volume of 1.66 crore shares in the past one quarter. The stock hit a high of Rs 80.40 and a low of Rs 75 so far during the day. The stock hit a 52-week high of Rs 85.90 on 1 January 2016. The stock hit a 52-week low of Rs 16.70 on 27 April 2015. The stock had outperformed the market over the past one month till 22 January 2016, rising 3.73% compared with 4.51% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 60.48% as against Sensex's 10.45% fall.
The mid-cap company has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.
SpiceJet said that it reported its highest quarterly net profit in its history. The company's net sales rose 10.92% to Rs 1439.38 crore in Q3 December 2015 over Q3 December 2014.
SpiceJet has reported an operational revenue of Rs 1459.95 crore in Q3 December 2015 demonstrating a growth of 11% over same quarter last year while its capacity (in terms of available seat kilometers) dropped by 3% for the same reference period.
On an EBITDA (earnings before interest, taxes, depreciation and amortization) basis, SpiceJet reported a profit of Rs 292.24 crore against a loss of Rs 194.97 crore in the same quarter last year. On an EBITDAR (earnings before interest, taxes, depreciation, amortization and rent costs) basis, the company reported a profit of Rs 519.96 crore against a profit of Rs 20.14 crore in the same quarter last year. These results also reflect one-time expense of Rs 26.40 crore, and other income of Rs 1.60 crore.
During the quarter operating revenue per available seat kilometer (ASKM) has increased to 4.25 from 3.72 same quarter last year, registering a growth of 14%. The fuel cost per ASKM for the quarter has declined to 1.07 from 1.59 last year, a decline of 33%. Other costs per ASKM has declined to 2.52 from 2.93 last year, a decline of 14%.
This is the fourth consecutive profitable quarter for SpiceJet since its turnaround after December 2014. The airline recorded a load factor of 91.6% for the quarter, the highest in the industry. This load factor reflects an increase of 8% over the same period last year.
SpiceJet is India's #2 low fare airline that has made flying more affordable for more Indians than ever before. SpiceJet operates 291 daily flights to 40 destinations, including 34 domestic and 6 international ones.
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