SpiceJet registers a profit of Rs 238 crore in Q3

SpiceJet, the low-cost airline headquartered in Gurgaon, is minting money because of low fuel prices. It announced profits of Rs 238 crore during the third quarter of the current fiscal year.

This is special for the company even more, because last year, in the same period, the airline had reported losses of Rs 275 crore.

The company has also reported about 35% decline in the costs during the third quarter as compared to Q3 last year, the financial turmoil also led to its closure for a day during last December.
Even though it has lower capacity, the airline registered about 11% increase in revenues during the third quarter.

IndiGo too announced its third quarter results yesterday, where in it reported a net profit of Rs 657.3 crore, as compared to Rs 531.6 crore last year.

Image source