SpiceJet Ltd on Monday announced a year-on-year decline of 10 per cent in net profit for the first quarter of the current financial year, mainly due to fall in the rupee's value and higher fuel cost.
The carrier announced that its net profit slipped to Rs 50.55 crore in the April to June quarter of 2013, from a net profit of Rs 56.15 crore in the corresponding quarter of the last financial year.
While total income jumped 16 per cent year-on-year, Rs 1,466.69 crore to Rs 1,704.30 crore; total expenses increased 16.9 per cent to Rs 1,641.93 crore. Fuel costs of the airline jumped 10.5 per cent to Rs 739.83 crore.
SpiceJet, however, described the quarterly results as "satisfactory."
The carrier said in a statement, "The overall performance should be considered satisfactory and has to be viewed in the context of several adverse circumstances that continue to make the business environment for the airline industry extremely challenging."
The carrier also underlined that its passenger traffic and average yield per passenger improved by 13 per cent and 5 per cent, respectively, in the quarter under review.
0 comments:
Post a Comment
Click to see the code!
To insert emoticon you must added at least one space before the code.