SpiceJet’s Q1 net profit Rs.72 crore

Mumbai, July 28 (IANS) Budget passenger carrier SpiceJet on Tuesday reported a net profit of Rs.71.8 crore for the first quarter of the current fiscal.

The airline had reported a net loss of Rs.124 crore in the corresponding period last fiscal.

“This is the second consecutive profitable quarter and I am proud of what we have achieved. But there is still a long way to go. I am confident that the best is still ahead of us,” SpiceJet chairman Ajay Singh said.

“We will continue to focus on growth and on getting operational reliability and on-time performance back to world class standards,” Singh said in a statement.

The company had announced profits for the fourth quarter of 2014-15, after seven consecutive quarters of losses.

The company’s net profit during the fourth quarter of 2014-15 stood at Rs.22.5 crore, from a net loss of Rs.321.51 crore.

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