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Gurgaon, February 14, 2017: Carrying forward its remarkable turnaround
story, SpiceJet Ltd. today announced its eighth successive profitable quarter with a
profit of INR 181.1 crore for the quarter ending December 31, 2016, despite a softening
of demand due to demonetisation.
SpiceJet reported operating revenue of INR 1642.4 crore in the quarter. On an EBITDA
basis, SpiceJet reported a profit of INR 241.3 crore. On an EBITDAR basis, the Company
reported a profit of INR 484.2 crore.
Profits for the quarter were impacted by demonetization and higher fuel prices. Despite
this, margins on EBITDAR, EBITDA and EAT basis were 28%, 14%, 11% respectively.
The December quarter saw SpiceJet excelling on all operational parameters emerging as
the country’s most punctual airline while continuing to record the industry highest
load factor of over 90% for 21 months in a row.
This is the eighth consecutive profitable quarter for SpiceJet since its turnaround
after December 2014. The airline recorded a load factor of 90.7% for the quarter, the
highest in the industry. SpiceJet also showcased remarkable on time performance for the
quarter by clocking the highest ranking across all metros.
“We have reported our eighth successive profitable quarter despite headwinds. SpiceJet’s
dramatic turnaround story has made the world sit up and take notice. Our historic
aircraft order signifies the end of the turnaround phase for SpiceJet and marks the
beginning of a growth story. This order will help build an even stronger and more
profitable airline. We will be relentless in reducing our costs and identifying new
avenues for revenue generation,” said Ajay Singh, Chairman and Managing Director,
SpiceJet Ltd.
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