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Shares of budget airline SpiceJet zooms to 13.5 per cent

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Shares of budget airline SpiceJet today zoomed 13.5 per cent after the company reported a net profit of Rs 238 crore for the three months to December, staying profitable for the fourth straight quarter.

After a strong opening, the stock shot up 13.47 per cent to Rs 80.40 on BSE.

SpiceJet on Friday reported a net profit of Rs 238.40 crore for the December quarter, mainly on the back of lower fuel costs.

This is also the highest-ever quarterly profit recorded by the carrier, which was facing tough times a year ago.

In the 2014 December quarter, the airline had incurred a net loss of Rs 275.03 crore.

Total income from operations jumped to Rs 1,459.95 crore in the latest December quarter as against Rs 1,311.18 crore in the year-ago period.

“This is the fourth consecutive profitable quarter for SpiceJet since its turnaround after December 2014,” SpiceJet had said in a statement.

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