Misses estimates: SpiceJet Q4 net profit rises 10.8% to Rs 46.1 cr

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New Delhi | Published: May 12, 2018 5:10:12 AM

Total revenues from operations during the period jumped 24.8% to Rs 2,029.3 crore. For FY18, the company’s net profit was up 31.5% at Rs 566.6 crore, while revenues from operations increased 25.9% to Rs 7,795.1 crore.

spicejet, spicejet q4, spicejet net profitLow-cost carrier SpiceJet on Friday missed analyst estimates on account of high fuel cost by posting a net profit (standalone) of Rs 46.1 crore, up 10.8% year-on-year during the January-March quarter. (Reuters)

Low-cost carrier SpiceJet on Friday missed analyst estimates on account of high fuel cost by posting a net profit (standalone) of Rs 46.1 crore, up 10.8% year-on-year during the January-March quarter. Bloomberg estimates had pegged the net profit at Rs 78.6 crore for the January-March quarter FY18. The company’s fuel cost (aviation turbine fuel), which comprises around 40% of the overall costs, was higher by 31.3% at Rs 724.9 crore during the quarter compared to the same period last year.

Total revenues from operations during the period jumped 24.8% to Rs 2,029.3 crore. For FY18, the company’s net profit was up 31.5% at Rs 566.6 crore, while revenues from operations increased 25.9% to Rs 7,795.1 crore. The jet fuel cost witnessed a 25.9% rise during the fiscal year. During the quarter, passenger yield – revenue per available kilometre – grew 8% while passenger load factor was at 95.4%.

“Despite rising fuel prices, SpiceJet continues to record profits and has recorded the highest annual profit in its history. With the fuel efficient B737 MAX joining our fleet in the coming months, we will continue to expand at home and abroad, and strive to improve profitability and operating performance,” said Ajay Singh, CMD, SpiceJet, said in a release.

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