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| SpiceJet records Rs 42 crore profit in December quarter | | |  Low cost airline SpiceJet on Tuesday reported a consolidated profit of Rs 42.45 crore for the December quarter helped by higher passenger traffic and improved performance of the logistics segment.
The carrier, had reported a consolidated loss of Rs 66.78 crore during the year-ago period.
Its total income in the 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 of the current fiscal year. During the corresponding period of last year, it had a standalone loss of Rs 56.96 crore.
SpiceJet chairman and managing director Ajay Singh said he was happy that the airline reported a "profit in Q3 of the current fiscal driven by excellent logistics operations, rebound in passenger traffic and various accommodations from aircraft manufacturer and lessors".
He further said that "the passenger industry witnessed the much needed turnaround in the third quarter as Coronavirus cases ebbed in the first half of the quarter, travel picked up significantly and there was finally hope that the worst was behind us. However, that changed by the second half of December as Omicron halted that recovery".
"Our performance would have been much better but was impacted by the unexpected delay in the return to service of the 737 MAX, rising fuel costs and certain exceptional adjustments. I am happy to say that there are renewed signs of recovery in the passenger segment and the logistics segment continues to remain strong," he noted. |
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