Budget passenger carrier SpiceJet 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. The company had announced profits for the fourth quarter of 2014-15, after seven consecutive quarters of losses. “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’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.