New Delhi, 25th May 2007: SpiceJet revenues for the 10-month period of Jun'06 to 31 Mar'07 period have soared 121% at Rs 748 crores versus Rs 339 crores for comparable period of 10 months of previous financial year, (Rs. 453 crores in 12 months of FY 05-06).
SpiceJet's profit in the first quarter has gone up to Rs 18.5 crore from a loss of Rs 3.4 crore in the same period of the previous fiscal.
Out of the Rs 185 crore quarterly profit, Rs 12. crore is due to aircraft sale and lease back, the SpiceJet chairman Siddhanta Sharma said.
On operating levels, SpiceJet reported an income of Rs. 640 crores and operating expenses of Rs. 659 crores in spite of the fact that the reporting period does not include two peak travel months of April and May.
SpiceJet has taken a conservative approach and adopted changes in accounting policies for certain capitalized / deferred items which have been now written off. But for these, the net loss would have been lower by Rs 5.4 crores.
During the reporting period, SpiceJet has doubled its average deployed fleet to 8.17 aircraft versus 4.08 aircraft for comparable previous year. As of today SpiceJet operates 11 aircraft to 14 destinations. The number of passengers flown has also increased by 95% to 2.61 million compared to 1.34 million in comparable previous period.
SpiceJet has managed to improve the Net Revenue / passenger to Rs 2320 from Rs 2209 in comparable previous year.
Announcing the results, Partha Sarathi Basu, CFO SpiceJet said that "Spicejet will be adding 8 more aircrafts to its fleet during the current year. The expanded capacity will deliver its potential business during the current year through growth in passenger numbers. With continued focus on cost and improved yields the company targets to achieve Break Even during the current financial year."
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SpiceJet's profit in the first quarter has gone up to Rs 18.5 crore from a loss of Rs 3.4 crore in the same period of the previous fiscal.
Out of the Rs 185 crore quarterly profit, Rs 12. crore is due to aircraft sale and lease back, the SpiceJet chairman Siddhanta Sharma said.
On operating levels, SpiceJet reported an income of Rs. 640 crores and operating expenses of Rs. 659 crores in spite of the fact that the reporting period does not include two peak travel months of April and May.
SpiceJet has taken a conservative approach and adopted changes in accounting policies for certain capitalized / deferred items which have been now written off. But for these, the net loss would have been lower by Rs 5.4 crores.
During the reporting period, SpiceJet has doubled its average deployed fleet to 8.17 aircraft versus 4.08 aircraft for comparable previous year. As of today SpiceJet operates 11 aircraft to 14 destinations. The number of passengers flown has also increased by 95% to 2.61 million compared to 1.34 million in comparable previous period.
SpiceJet has managed to improve the Net Revenue / passenger to Rs 2320 from Rs 2209 in comparable previous year.
Announcing the results, Partha Sarathi Basu, CFO SpiceJet said that "Spicejet will be adding 8 more aircrafts to its fleet during the current year. The expanded capacity will deliver its potential business during the current year through growth in passenger numbers. With continued focus on cost and improved yields the company targets to achieve Break Even during the current financial year."
Discuss
Add this link to...
Tell a friend
Bury
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