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SpiceJet posts 31% growth in revenues for the quarter

Outperforms the domestic industry with a 20% passenger growth.

Market share improved from 17.1% to 20.4% in FY 2013

Chennai, May 24, 2013: The continued weakness of Indian Rupee, high fuel prices and significant tax burden continued to hurt the entire domestic aviation sector. However, for yet another quarter SpiceJet was able to successfully grow passenger traffic by around 20%, outperforming the domestic industry passenger growth. However, the increase in fares was inadequate to fully absorb the impact of higher costs of operation.

Revenue for the fourth quarter ended March 31, 2013 increased by 31% to Rs 1,456 crore as compared to Rs 1,113 crore of the quarter ended March 31, 2012.

The average passenger yields in the March quarter increased 8% as compared to the corresponding quarter a year ago.

Load factor during the March, 2013 quarter was 76% from 74% during the same period last year.

SpiceJet’s Market Share in March 2013 increased to 20.4% from 17.1% in March 2012.

SpiceJet posted a loss of Rs. 186 crore for the quarter ended March 31, 2013 compared with a loss of Rs. 249 crore for the comparable period last fiscal year. For the financial year ended March 31, 2013 the company’s net loss stood at Rs 191 crore against a net loss of Rs 606 crore in the prior year.

Highlights for the quarter ended March 31, 2013 Vs March 31, 2012
Operational
  • 20% growth in number of passengers.
  • 22% growth of Available Seat Kilometers.
  • 27% growth in number of departures.
Financial For the Quarter ended March 31, 2013:
  • 31% increase in revenue from operations.
  • 8% increase in passenger yields to Rs. 3,739 from Rs 3,460
  • Net loss of Rs. 186 crore for the quarter compared to a net loss of Rs. 249 crore for the Same quarter prior year
For the Year ended March 31, 2013:
  • 43% increase in revenue from operations
  • 23% increase in passenger yields to Rs. 4,052 from Rs 3,293
  • Net loss of Rs. 191 crore for the year compared to a loss of Rs. 606 crore
Mr. Neil Mills, Chief Executive Officer, said “The past twelve months have continued to be difficult and the Indian aviation industry witnessed increasing cost challenges particularly relating to airport charges as well as the adverse impact of the weakness of the rupee. We continue to be confident of the future, particularly as we have launched numerous international routes and this will improve the mix and performance in the future”.

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