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Jul 30, 2012, 04.13 PM IST
Low fare carrier SpiceJet has posted a net profit of Rs 56 crore for the June quarter as against Rs 72 crore loss in the corresponding quarter of previous year.
After five straight quarterly losses, low fare carrier SpiceJet has posted a Rs 56 crore profit for the June quarter. The stellar performance of the company can, well be attributed to higher passenger load factors and atleast 24% growth in revenues per passenger. Had the Rupee not appreciared against the dollar, the carrier would have posted better results, said SpiceJet in a press statement.
Meanwhile, sales of the company rose 51% to Rs 1,407 year-on-year as the company improved its markets share in terms of passengers carried.The share price of the company was quick to respond to the good performance of the company and rose almost 16% to Rs 29.35.
Neil Mills, CEO of Spicejet says: “While we expand our footprint in domestic as well as international sectors, the excessive taxation on aviation fuel in
Action in SpiceJet
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