SpiceJet reported rise of 10.83 percent in net profit

Mumbai, May 12: Budget passenger carrier SpiceJet on Friday reported a rise of 10.83 percent in its net profit for the quarter ended March 31, 2018.

According to the airline, the standalone net profit during the quarter under review increased to Rs 46.15 crore from Rs 41.64 crore reported for the corresponding period of 2016-17.

However, the low-cost carrier's total income grew by 24.92 per cent to Rs 2,090.74 crore for the quarter ended March 2018 compared to Rs 1,673.61 crore earned during the same period of previous fiscal.

"Despite rising fuel prices, SpiceJet continues to record profits and has recorded the highest annual profit in its history," SpiceJet's CMD Ajay Singh was quoted as saying in a statement.

"With the fuel efficient B737 MAX joining our fleet in the coming months we will continue to expand at home and abroad and strive to improve profitability and operating performance."