Budget airline SpiceJet reported a net profit of Rs 238.40 crore for the three-month period ended December 2015, staying profitable for the fourth straight quarter mainly aided by lower fuel costs. This is also the highest ever profit recorded by the carrier, which was facing turbulent times a year ago. In the 2014 December quarter, the airline had incurred a net loss of Rs 275.03 crore.
Investment solution provider Anand Rathi Securities has come out with a report ‘SpiceJet: Flying high; initiating coverage, with a Buy’. The report says favourable macro-economic conditions have worked in the company’s favour.
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(Video by Vineet Abraham and Sanjit Oberai)