SpiceJet declared Q2 results, shows 52% growth in passenger revenue
New Delhi, 30th Oct 2007: Spicejet declared its second quarter results for period July’ 07 to September’ 07. It registered a robust growth of 52% in passenger revenue, which grew to Rs 207 crores from Rs 136 crores last year. The total income for same period grew by 65% from 164 crores to 270 cr. A net loss of 37.8 crores is reported, compared to a loss of Rs. 31.9 crores in same period previous year.
There has been a significant increase in the number of flights during the quarter. It has increased from 4053 last year to 7279, resulting in a growth of 80 % in flights operated.
The number of passenger flown went up by 64 % . The number of passenger flown in Q 2 was 858 K as against 525 K same quarter last year.
During the reporting period, the company has doubled its average deployed fleet to 11.3 aircrafts versus 5.8 aircrafts for comparable previous year. Growth in Available Seat Kilometer flown is 85% at 1298 Million from 700 Million.
Other income includes Profit on Sale of 3 aircrafts of Rs. 20.4 crores, Interest income of Rs. 11.1 crores. The company had an adverse effect because of foreign exchange fluctuation for Rs. 1.3 crores, included in other income.
While announcing the results Partha Sarathi Basu, CFO SpiceJet said, “Typically our industry works on a seasonal cycle. Last quarter being the lean season our focus was on curtailing the losses even with introduction of new sectors, which take time to mature. . The constant focus on cost and ancillary revenue has helped us to restrain it. We have been able to reduce our costs by 15 % compared to same quarter last year which is currently at Rs. 2.35 per ASK despite higher fuel cost. We will continue to keep our focus on profitable growth, keep costs down, improve yield and focus on ancillary revenue.”
The company has been able to achieve the lowest cost per seat deployed in the country and will further expand its capacity to 19 aircrafts by end 2007.
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Weather Network says:
on November 12, 2007 at 2:48 am
Weather Network…
I couldn’t understand some parts of this article, but it sounds interesting…
sumit agarwal says:
on November 13, 2007 at 12:27 pm
its very difficult to make payments on site. the page does’t open up
Balakrishnan Nair PD says:
on December 19, 2007 at 11:46 am
Dear Spicejet, when are you coming to Vadodara.
Balakrishnan Nair PD says:
on December 19, 2007 at 11:48 am
Vadodara-Pune-Mangalore-Kochi could fetch a good load for spicejet. hope spicejet will look into.
regards
niks says:
on February 8, 2008 at 2:04 am
when u r coming to indore…….
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Mandar says:
on February 20, 2008 at 4:27 pm
When you are coming to Indore.
Please start flights to Bangalore and Hyderabad.
Akhil says:
on February 20, 2008 at 4:29 pm
Please start Pune-Indore flight.
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shrvn says:
on March 6, 2008 at 1:33 pm
i see mangalore a very potential destination, why doesn’t spice jet look into routes from mangalore.
Nithesh says:
on April 17, 2008 at 12:49 pm
Well Mangalore is sector spice jet can look at! You can see the growth and its recommended to have one stop flight from delhi to mangalore(vadodra is the best option)