Spicejet’s Q1 Should Help Its Shares Maintain Altitude

All airline stocks have done well this year, but those of SpiceJet Ltd have flown the highest. They have more than doubled in value, compared to 55% and 62% gain in the shares of Interglobe Aviation Ltd and Jet Airways (India) Ltd.

While SpiceJet’s June quarter earnings wouldn’t necessarily get investors excited, they would reaffirm their faith. Net profit increased about 18% from a year earlier to Rs175 crore. A poll of three Bloomberg analysts had pegged SpiceJet’s June quarter profit at Rs178.60 crore.

SpiceJet’s revenue rose at a healthy pace of 23%, while margins fell a bit, leading to a 19% increase in Ebitda to Rs228 crore. Ebitda is earnings before interest, tax, depreciation and amortization. Read More…

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