SpiceJet Q3 profit tanks 77% to Rs 55 cr on sharp rise in aircraft fuel expenses


Low cost airline carrier SpiceJet has posted a steep 77.1 percent year-on-year decline in profit to Rs 55.1 crore, dented by higher aircraft fuel expenses. Its profit in same period last year was at Rs 240 crore.

The company said revenue from operations during the quarter grew by 20.2 percent to Rs 2,487 crore year-on-year. At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) plunged 62.7 percent YoY to Rs 113.2 crore and margin contracted to 4.5 percent in Q3 against 14.7 percent YoY due to more than 33 percent increase in operating expenses.

Aircraft fuel expenses during the quarter increased by 54.5 percent to Rs 968.3 crore against Rs 631 crore in corresponding period last year. Read More

You may also read!

Kartarpur Corridor: India Raises Concern Over Pro-Khalistan Groups Using Pilgrimage For Propaganda

Even as it is moving ahead with the Kartarpur corridor project, India has concerns about pro-Khalistan elements in Pakistan

Read More...

Kargil visit induced in me new-found respect for Indian Army: Rajnath Singh

Defence Minister Rajnath Singh on Sunday said his recent visit to Kargil had renewed his confidence and respect for

Read More...

Pakistan PM Imran Khan to hold talks with US President Donald Trump on Monday

Prime Minister Imran Khan and US President DonaldPakistan PM Imran Khan to hold talks with US President Donald Trump

Read More...

Leave a reply:

Mobile Sliding Menu