Spicejet in financially profitable condition, reports Q1 net profit of Rs 56 cr

MUMBAI: Snapping the weak results of five-consecutive quarter, low-cost carrier Spicejet is presently in a profitable condition, posting a net profit of Rs 56 crore in the April-June quarter as compared to a loss of Rs 71.96 crore a year ago, due to the significant growth in sales and better outputs.

The Kalanithi Maran-promoted carrier also reported a sales growth of 51 percent at Rs 1,406.74 crore in the April-June quarter, as compared to Rs 930.75 crore year-on-year.

During the reporting quarter, the average revenue per passenger grew 24 per cent, while the number of passengers carried rose 26 per cent.