The no-frills carrier, which is now going through turbulent times, had a consolidated loss of Rs 66.78 crore in the year-ago time.
SpiceJet on Tuesday
SpiceJet on Tuesday informed consolidated earnings of Rs 42.45 crore for the three months ended December 2021 as higher passenger traffic and improved performance of the logistics segment propelled the airline into the black.
The no-frills carrier, which is presently going through turbulent times, had a consolidated loss of Rs 66.78 crore in the year-ago time.
- Entire income in the latest December quarter climbed to Rs 267.73 crore reached to Rs 187.06 crore at the same time a year ago, according to a regulatory filing. On a standalone basis, the airline recorded a profit of Rs 23.28 crore for the third quarter of the recent fiscal year. In the year-ago period, it had a standalone loss of Rs 56.96 crore
SpiceJet Chairman and Managing Director Ajay Singh said
SpiceJet Chairman and Managing Director Ajay Singh told he was glad that the airline reported a “profit in Q3 FY2022 driven by excellent logistics operations, rebound in passenger traffic and various accommodations from aircraft manufacturer and lessors”.
According to him, the passenger industry witnessed the much-needed turnaround in the third quarter as COVID cases ebbed in the first half of the quarter, travel picked up significantly and there was eventually expected that the worst was behind us.
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However, that transformed by the second half of December as Omicron halted that recovery.
Shares of SpiceJet soared nearly 7 percent to
“Our performance would have been much better but was impacted by the unexpected delay in the return to service of the 737 MAX, rising fuel costs, and certain exceptional adjustments.
I am glad to tell you that there are restarted signs of recovery in the passenger segment and the logistics segment continues to remain strong,” he noted. Shares of SpiceJet soared almost 7 percent to Rs 63.30 apiece in late afternoon trade on BSE.
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