India’s SpiceJet Ltd reported a nearly five-fold surge in third-quarter profit on Friday, as the embattled low-cost carrier benefited from soaring demand for air travel.
The airline said its profit rose to 1.07 billion rupees (Rs 107 crore) for the quarter ending December 31, 2022 as compared to a net profit of Rs 23.28 Crore (Rs 20 Crore excluding forex adjustment) in the quarter ending December 31, 2021.
Despite a big jump in passenger traffic, business continued to be impacted by high fuel prices and depreciating Rupee, the company said in the statement.
