SpiceJet Q3 profit rises to Rs 73.2 cr, operational revenue up by 47%
Budget carrier SpiceJet on Friday posted a net profit of Rs 73.2 crore for the three months ended December. “This profit is after a non-cash forex charge on account of Ind AS 116 of Rs 75.9 crore without which the profit would have been Rs 149.1 crore,” the airline said in a release.
Ind AS 116 or Indian Accounting Standard 116 pertains to leases. In the 2018 December quarter, the carrier recorded a profit of Rs 55.1 crore.
Operational revenue in the latest December quarter climbed 47 per cent to Rs 3,647.1 crore. In the year-ago period, the same stood at Rs 2,486.8 crore.
SpiceJet Chairman and Managing Director Ajay Singh said the airline has done remarkably well in the latest quarter, despite a substantial profit hit from the grounding of MAX aircraft.
