SpiceJet's Q1 net down 11% to Rs 51cr on weak rupee

Moneycontrol Bureau

High crude cost and a weak rupee dented low fare carrier SpiceJet’s June quarter profit by 11 percent year-on-year to Rs 50.55 crore. Sales however climbed around 16 percent to Rs 1704 crore on better realization from overseas routes.

The firm in a statement said, the overall performance should be considered satisfactory and has to be viewed in the context  of  several  adverse  circumstances  that  continue  to  make  the  business  environment for the airline industry extremely challenging. 

The average passenger yields was up 5 percent Y-o-Y to Rs 4278 along with an over hundred basis points jump in the airline’s domestic market share to 19.5 percent. Both these factors put together helped the airline maintain profit Y-o-Y.

Have a look at operational highlights of SpiceJet during the quarter.

  •  13 percent growth in number of passengers
  •  25 percent growth of Available Seat Kilometers
  •  27 percent growth in number of departures
  •  Passenger load factors declined around 300 bps to 77 percent

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