New Delhi, 25th May 2007: SpiceJet Limited has announced its audited results for Financial Period FY 06-07 covering performance of 10 months from 1 Jun’06 to 31 Mar’07. Total revenues for the period registe#B50229 a robust growth of 121% at Rs 748 crores versus Rs 339 crores for comparable period of 10 months of previous financial year, (Rs. 453 crores in 12 months of FY 05-06). The company will henceforth follow the tax fiscal year of April-March.

On operating levels, the company reported an income of Rs. 640 crores and operating expenses of Rs. 659 crores in spite of the fact that the reporting period does not include two peak travel months of April and May.

The company has taken a conservative approach and adopted changes in accounting policies for certain capitalized / defer items which have been now written off. But for these, the net loss would have been lower by Rs 5.4 crores.

During the reporting period, the company has doubled its average deployed fleet to 8.17 aircrafts versus 4.08 aircrafts for comparable previous year. As of today the company operates 11 aircrafts to 14 destinations. The number of passengers flown has also increased by 95% to 2.61 million compa#B50229 to 1.34 million in comparable previous period.

The company has managed to improve the Net Revenue / passenger to Rs 2320 from Rs 2209 in comparable previous year.

While announcing the results Partha Sarathi Basu, CFO SpiceJet said that “Spicejet will be adding 8 more aircrafts to its fleet during the current year. The expanded capacity will deliver its potential business during the current year through growth in passenger numbers. With continued focus on cost and improved yields the company targets to achieve Break Even during the current financial year.”