{"id":597671,"date":"2023-08-16T09:32:17","date_gmt":"2023-08-16T04:02:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=597671"},"modified":"2023-08-16T10:08:36","modified_gmt":"2023-08-16T04:38:36","slug":"flying-back-into-black-spicejet-reports-highest-profit-in-4-years","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/flying-back-into-black-spicejet-reports-highest-profit-in-4-years\/","title":{"rendered":"Flying back into black, SpiceJet reports highest profit in 4 years"},"content":{"rendered":"<p>Low-cost airline SpiceJet reported a net profit of Rs 197.6 crore for the first quarter of 2023-24 (FY24) after recording a net loss of Rs 6.2 crore on a consolidated basis in the last quarter of FY23 (Q4FY23).<\/p>\n<p>The jump in net profit can be attributed to a 17 per cent decline in the company&#8217;s total expenses from Rs 2504.7 crore in Q4FY23 to Rs 2069 crore in the first quarter of the current financial year. Moreover, the carrier also noted 30 per cent quarter-on-quarter (QoQ) reduction in the airline\u2019s operating expenses which includes aviation turbine fuel (ATF), aircraft lease rentals, airport charges, among other expenses. The airline\u2019s operating expenses stood at Rs 707.8 crore in Q1FY24, down from Rs 1,002.9 crore in Q4FY23.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Low-cost airline SpiceJet reported a net profit of Rs 197.6 crore for the first quarter of 2023-24 (FY24) after recording a net loss of Rs 6.2 crore on a consolidated basis in the last quarter of FY23 (Q4FY23). The jump in net profit can be attributed to a 17 per cent decline in the company&#8217;s total expenses from Rs 2504.7 crore in Q4FY23 to Rs 2069 crore in the first quarter of the current financial year. Moreover, the carrier also noted 30 per cent quarter-on-quarter (QoQ) reduction in the airline\u2019s operating expenses which includes aviation turbine fuel (ATF), aircraft lease [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-597671","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/597671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=597671"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/597671\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=597671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=597671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=597671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}