Latest News
-
Wipro Q4 Results Preview: Weak Demand Likely To Drag Revenue Sequentially, EBIT Margins Seen Stable -
Rs 6/Share Final Dividend Declared: Buy The Blue Chip Stock To Be Eligible? -
TCS Vs Infosys: Dividend History And Upcoming Rewards, Which IT Giant Is Better? -
LIC New Jeevan Shanti 858 Plan: How To Earn Rs 10,000 Pension Per Month After Retirement? Check Eligibility! -
Kronox Lab Sciences Granted SEBI Approval to Initiate IPO -
Big News For F&O Traders! NSE To Launch Derivatives On Nifty Next 50 From April 24; Key Highlights! -
Aadhaar POI, POA Update: How To Submit Your Updated Identity, Address Proof Documents Online? -
Infosys Q4 Profit Surges 30% to Rs 7,969 Crore, Eyes Future Growth -
China Offloads $22.7 Billion in US Treasury Amid Growing Tensions -
7:1 Bonus, Rs 778.75/Sh Dividend In 20 Yrs: Infosys To Offer Massive Rewards, Up Next Rs 28/Sh Payout Soon
Shares in SpiceJet rally 9 percent on good quarterly results
The shares were up after the company managed to cut its losses for the quarter ending June 30, 2014. SpiceJet managed to show an operating profit of Rs 9 crores, which went down well with the markets. The airline also managed to delivers highest ever RASK (unit revenue) for the months of May and June, driven by high load, improved yield, and growth in ancillary revenue.
It also emerges as the #2 airline in India in terms of domestic passenger share in June despite network rationalization that reduced capacity by 8.4% in the quarter.
"On a year-over-year basis, topline revenue for the quarter held steady despite 8.4% reduction in capacity (ASKs) after reduction of five aircraft from fleet (two scheduled, four early returns as part of network rationalization; one new aircraft was also added to the fleet in May); load factor up 2.4%," the company stated in a release.
During the quarter, SpiceJet also incurred restructuring and certain one-off costs consisting of Rs 133 cr relating to restructuring of the network and fleet.
GoodReturns.in
