Wednesday 26 February 2020
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business-standard - 12 days ago

SpiceJet shares climb nearly 6 pc after Q3 results

Shares of SpiceJet on Friday jumped nearly 6 per cent after the company posted a net profit of Rs 73.2 crore for the three months ended December. The scrip climbed 5.79 per cent to close at Rs 89.60 on the BSE. During the day, it advanced 10.27 per cent to Rs 93.40. In the 2018 December quarter, the carrier recorded a profit of Rs 55.1 crore. Standalone profit from Air Transport Services (airline) was Rs 115 crore. Further, this profit is after a non-cash forex charge on account of Ind AS 116 of Rs 75.9 crore without which the profit would have been Rs 190.9 crore, the airline said in a release. Ind AS 116 or Indian Accounting Standard 116 pertains to leases. Operational revenue in the latest December quarter climbed 47 per cent to Rs 3,647.1 crore. In the year-ago period, the same stood at Rs 2,486.8 crore. SpiceJet Chairman and Managing Director Ajay Singh said the airline has done remarkably well in the latest quarter despite a substantial profit hit from the grounding of MAX ...

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