Spicejet flies higher with Q3 numbers

SpiceJet, recently declared its Q3FY16 results. The company's revenue increased by 11.35 per cent to Rs 1460 crore in Q3FY16 as compared to same period in previous fiscal year. Its total expenditure declined by 22.23 per cent to Rs 1180 crore in Q3FY16 on yearly basis. SpiceJet's total expenditure decreased predominantly due to 34.81 per cent reduction in power & fuel cost during the quarter.

SpiceJet reported positive EBITDA as Rs 280 crore in Q3FY16 against negative EBITDA of Rs 207 crore in Q3FY15. The company posted EBITDA margin of 19.16 per cent in Q3FY16 because of fall in crude oil prices and touched 11 year record low around USD 35 during the quarter. Its interest expense reduced by 50.76 per cent to Rs 23.34 crore and other income increased by 10.2 per cent to Rs 12.53 crore in Q3FY16 on yearly basis. SpiceJet posted bulky bottomline with Rs 238 crore against net loss of Rs 275 crore in Q3FY15. The company's net profit margin stood at 16.33 per cent in Q3FY16 while -20.98 per cent in Q3FY15.

SpiceJet's share price increased by 13.48 per cent on bourses in early trades and is trading at Rs 75.8 on intraday basis. After reacting Interglobe Aviation's result, during trading session of January 22nd , the industry witnessed heavy selling. The Interglobe Aviation touched lower circuit on that day and today its share price decreased by 6.58 per cent and is trading at Rs 928 on intraday basis.Meanwhile, SpiceJet will remain focused on today's trading session.

SpiceJet is provider of air transportation services. The company operates approximately 250 daily flights to around 41 destinations, including around 34 domestic and seven international. It connects its network using fleet of around 20 Boeing 737 and two Airbus A319 aircraft, along with around 14 Bombardier Q400 aircraft. SpiceJet Cargo, a division of SpiceJet airlines, offers air freight transportation across India. SpiceJet Cargo offers the capability to ferry between 2 to 3.5 tons of cargo per flight with around 264 scheduled daily flights, which amounts to a total capacity of approximately 300 tons on a daily basis. It also offers domestic and international charter services.