Spicejet shares flies high surged 20%, reported a big jump in profit

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SpiceJet’s net profit in the quarter ended June 30, 2017, doubled to Rs Rs. 149 crore as compared to the same quarter of the previous year.

This is the sixth consecutive profitable quarter for the company and highest-ever Q1 profit.

Revenue increased 37 per cent to Rs. 1,522 crore.

At the operating level ( on an EBITDA basis), SpiceJet reported a profit of Rs.215 crore with EBITDA margin at 14 per cent.

The airline company recorded a passenger load factor of 92.5 per cent in Q1, the highest in the industry. For SpiceJet, the passenger load factor has been in excess of 90 per cent in every month since April 2015.

SpiceJet’s strong earnings also boosted sentiment in airline stocks, with Jet Airways surging 5 per cent and InterGlobe Aviation (which operates IndiGo) advancing 0.22 per cent.

It operates 298 daily flights to 41 destinations, including 35 domestic and 6 international ones.

SpiceJet shares ended locked at 20 per cent upper circuit of Rs 67.60 as compared to a 0.30 per cent decline in Nifty50 index.

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