Q3FY23 Quarterly Result Announced for Spicejet Ltd.
Airlines company Spicejet announced Q3FY23 results: Q3FY23: Operating Performance Highlights: Net profit (excluding non-cash forex impact) of Rs 221 crore as compared to Rs 20 crore in Q3FY22 EBITDA of Rs 455 crore against loss of Rs 414 crore in Q2FY23 EBITDAR of Rs 591 crore against a loss of Rs 387 crore in Q2FY23 PAT of Rs 107 crore in comparison to a loss of Rs 838 crore in Q2FY23 Industry’s highest domestic load factor of 91% Launched 15 new sectors during the quarter Revenue Q3FY23 vs Q3FY22: ASKM increased by 5% Pax RASK increased by 27% Yield improvement of 21% resulted in the increase in passenger revenue by 33% Ancillary revenue increased by 1% 254 charter flights operated utilizing over 40,000 seats Operating revenues rose to Rs 2,315 crore, registering a growth of 2.5% Operating Cost Highlights Q3FY23 vs Q3FY22: Increase in average ATF price by 48% Currency depreciation of 11% (INR against USD) SpiceXpress - Key highlights for the quarter ending December 2022: SpiceXpress revenues at Rs 120 crore in the reported quarter Posts net profit of Rs 12 crore Profit margin remained constant at 10% QoQ EBIDTA Rs 12.5 crore and EBITDAR profit of Rs 25 crore Transported 17,333 tonnes of cargo Ajay Singh, Chairman and Managing Director, SpiceJet, said, “I am happy that SpiceJet has reported a profit in Q3FY23. We exceeded our operational targets and continued with our unmatched performance clocking the highest load factor for every single month in 2022. The profits have been driven by a strong performance in both our passenger and cargo businesses. There are renewed signs of recovery and some very positive developments and restructuring initiatives in the immediate offing that would significantly strengthen and deleverage our balance sheet.” “Air travel has come roaring back touching newer heights and giving a glimpse of the huge potential of the Indian aviation market and we look forward to a robust and exciting 2023.” Result PDF24-02-2023
