SpiceJet posts Rs 262 cr profit in June quarter

No-frills airline SpiceJet on Friday reported a net profit of Rs 261.7 crore in the three months ended June. The carrier had a net loss of Rs 38.1 crore in the year-ago period.

In the latest June quarter, the airline posted a total income of Rs 3,145.3 crore compared to Rs 2,253.3 crore in the corresponding period a year ago, according to a release. SpiceJet Chairman and Managing Director Ajay Singh said the results would have been vastly better but for the painful grounding of the Boeing 737 Max aircraft.

"We look forward to their swift return to service in the near future that will help SpiceJet increase its margins and provide a superior level of service," he noted. Shares of the company rose over 4 per cent to Rs 141.50 in afternoon trade on the BSE.

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