SpiceJet posts 79 per cent surge in September-quarter profit

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

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

Net income from operations rose about 30 per cent to Rs 17.97 billion.

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