Shares of the airline company rose more than 10 per cent, hitting 52-week high on Wednesday after the company reported good set of Q3 numbers.
SpiceJet reported a net profit of Rs 238.40 crore for Q3 FY16, an improvement of Rs 513.42 crore over the net loss of Rs 275.03 crore for the same quarter last year.
This is the fourth consecutive profitable quarter for SpiceJet since its turnaround after December 2014.
"SpiceJet was back to near normal operations this quarter. While the margins remain slightly depressed due to wet lease operations, the Chennai floods and exchange losses, we are happy with the progress we have made so far," said Ajay Singh, Chairman and Managing Director, SpiceJet Limited.
Shares of the Spicejet was seen trading at Rs 87.35 higher by 10.91 per cent on BSE at 11.05 am IST. IT touched an intra-day high and 52-week high at Rs 88.45 during the trade.