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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 to Rs 81.40 on BSE and currently trading at Rs 80.35.
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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