SpiceJet shares jump 7 per cent after strong Q1 results
The airline reported a net profit of Rs 205 crore for the June quarter helped by strong air travel demand
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New Delhi: Shares of SpiceJet on Monday jumped nearly seven per cent after the company reported a net profit of Rs 205 crore for the June quarter helped by strong air travel demand.
The stock climbed 6.72 per cent to settle at Rs 33.67 on the BSE. During the day, it rallied 11.56 per cent to Rs 35.20. A total of 173.81 lakh shares of the company were traded on the BSE during the day. The airline, which is facing multiple headwinds, had recorded a net loss of Rs 789 crore in the year-ago period.
In a release, SpiceJet said the profit of Rs 205 crore was on account of "strong demand for air travel in India". "Total operating revenue for the June quarter was Rs 2,002 crore as against Rs 2,457 crore in the same quarter of the previous year," it said. SpiceJet Chairman and Managing Director Ajay Singh said despite facing multiple challenges, the airline posted a profit in the first quarter of the current financial year.
On Monday, the 30-share BSE Sensex climbed 79.27 points or 0.12 per cent to settle at 65,401.92 points. During the day, it fell 500.77 points or 0.76 per cent to 64,821.88 points.
