SpiceJet shares continue to fly high; gain 6.5% on Q1 result

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Mumbai | Updated: July 29, 2015 1:40:07 PM

Shares of budget carrier SpiceJet rose 6.5 per cent to hit 52-week high on Wednesday after the company posted quarterly profit of Rs 71.8 crore for the three months ended June, 2015.

spicejetSpiceJet, which was on the verge of closure late last year, on Wednesday posted second straight quarterly profit at Rs 71.8 crore for the three months ended June, 2015 on lower expenses and higher seat occupancy. (PTI)

Shares of budget carrier SpiceJet rose 6.5 per cent to hit 52-week high on Wednesday after the company posted quarterly profit of Rs 71.8 crore for the three months ended June, 2015 on Tuesday. The shares also surged following reports that the budget airline in in talks with Boeing Co and Airbus Group to acquire about 100 new narrow-body jets in a deal worth about $11 billion at list prices.

At 1.21 pm, shares of Spicejet were up 2.82 per cent at price Rs 27.35.

The stock gained 6.57 per cent to Rs 28.35 — its 52-week high — at the BSE. In the previous session also, the stock had gained nearly 6 per cent.

SpiceJet, which was on the verge of closure late last year, on Wednesday posted second straight quarterly profit at Rs 71.8 crore for the three months ended June, 2015 on lower expenses and higher seat occupancy.

The airline also said that it plans to buy new aircraft for fleet expansion. The low-cost carrier had posted a net loss of Rs 124.1 crore in the April-June quarter of 2014-15 fiscal.

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