SpiceJet Q3 Results Updates, SpiceJet post 105 percent jump in net profit to 110 Crores in Q3 as compared to last year’s same quarter it was stood at 43 Crores.
Company post net revenue of 2317 Crores in december quarter this year as compared to last years to was at 2267 Crores up by 2 percent.
In september quarter FY 22 net revenue was at 1953 Crores jump by 19 percent in december quarter.
SpiceJet Limited is engaged in the business of providing air transport services for the domestic passengers and international persons and also for cargo.
The Company’s segments include Air Transport Services, Freighter and Logistics Services and other services.
The Air transport services include, inter alia, passenger transport, and ancillary cargo operations arising from passenger aircraft operations.
The Company is engaged in cargo business and operates on both domestic and international routes and is powered by fully integrated transportation network including air cargo, ground transportation and warehousing facilities across the country.
It offers various services, such as foreign exchange service, travel assistance services. SpiceJet Merchandise Private Limited and Canvin Real Estate Private Limited are company’s subsidiaries.
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SpiceJet Q3 Results Management Commentary
“We exceeded our operational targets and continued with our unmatched performance clocking the highest load factor for every single month in 2022.
The profits have been driven by a strong performance in both our passenger and cargo businesses,” said Ajay Singh, Chairman and Managing Director, SpiceJet.
“Air travel has come roaring back touching newer heights and giving a glimpse of the huge potential of the Indian aviation market, and we look forward to a robust and exciting 2023,” said Singh.
SpiceJet Company Performance
Stock traded higher due to positive results out. Stock traded at 36 rupees before results out after results published stock jump 12 percent within one last hour.
In last one year stock gave negative returns to investors by 34 percent. In last 5 years stock was down by 76 percent. Aircraft business was badly affected by covid pandemic.
Currently company was in loss quarter on quarter basis. But condition now back to normal first time company post profit after one year and it was 110 Crores.