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SpiceJet Q2 FY18 profit surges 79% on high passenger yield

Reuters/ 13 Nov 17 | 03:41 PM
Related to : SpiceJet Ltd
 SpiceJet Ltd

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The airline's standalone net profit came in at 1.05 billion rupees

SpiceJet Ltd reported a 79 per cent rise in quarterly profit on Monday, helped by an increase in passenger yield.

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The airline's standalone net profit, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, came in at 1.05 billion rupees ($16.04 million) for the quarter ended Sept. 30, compared with 589.1 million rupees last year.

Net income from operations rose about 30 percent to 17.97 billion rupees.

Passenger yield, a measure of average fare and distance flown, climbed 7 percent, while domestic passenger load factor, which measures how much of an airline's passenger carrying capacity is used, was in excess of 94 percent.

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