Budget carrier SpiceJet on Tuesday reported net profits of Rs.263.42 million for the first quarter of this fiscal, in opposition to a loss of Rs.1.29 billion in the like quarter of 2008-09, despite some trying times for the aviation sector.The company's total revenue also registered a 10.55 percent increase at Rs.5.34 billion during the quarter, as against Rs.4.83 billion in the corresponding quarter of the last fiscal, said a regulatory filing with the Bombay Stock replace.
The main motive behind the profits, as opposed to losses, was a sharp drop in expenses toward aviation fuel, down by almost 50 percent at Rs.1.83 billion from Rs.3.10 billion in the corresponding quarter of last year.
The main motive behind the profits, as opposed to losses, was a sharp drop in expenses toward aviation fuel, down by almost 50 percent at Rs.1.83 billion from Rs.3.10 billion in the corresponding quarter of last year.
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