Jet’s absence helps SpiceJet Q4 net soar 22% to Rs. 56 cr

Helped by the void created by Jet Airways’ absence, low-cost airline SpiceJet reported a net profit of Rs. 56.3 crore for the fourth quarter ended March 31 this year, a 21.9 per cent increase over the Rs. 46.2-crore profit posted in the same period the previous year.

The company reported an operating revenue of Rs. 2,531.3 crore for the latest quarter, while on the EBITDAR or earning before interest, taxes, depreciation, amortisation and rent/restructuring basis, it reported a profit of Rs. 523.3 crore.

A statement issued by the airline said that it managed an increase in profitability despite challenges of seasonality and grounding of 13 Boeing 737 MAX aircraft.