Business
SpiceJet's Q2 net profit up 103%
Mumbai, Nov 25: Budget passenger carrier SpiceJet on Friday reported a rise of 103 per cent in its net profit for the second quarter of 2016-17.
The company's Q2 net profit stood at Rs 58.9 crore from Rs 29 crore reported in the corresponding quarter of 2015-16.
"This was the weakest quarter of the year and despite the intense competition in the market, SpiceJet has performed exceptionally well. We continue to focus on responsible and profitable growth," said Ajay Singh, Chairman and Managing
Director, Spicejet.
"We have resolved practically all our legacy issues and the stage is set for building up our cash reserves and finalising our long term fleet expansion plans."
This is the seventh consecutive profitable quarter for the airline after the challenges faced by the company in December, 2014 and the subsequent change in management and control.
14 hours ago
Karnataka bypolls: Nikhil Kumaraswamy named NDA candidate from Channapatna Assembly seat
14 hours ago
Congress not to field candidates in UP Assembly bypolls, announces support for Samajwadi Party
14 hours ago
FM Sitharaman, World Bank President discuss issues related to private capital participation in Global Public Goods
14 hours ago
Large turnout for early voters in US swing state Georgia; focus on economy, people's rights
14 hours ago
19-Year-Old Sikh Woman Tragically Dies While Working at Walmart in Halifax, Canada
15 hours ago
OpenAI Names Indian-American Economist Dr. Aaron Chatterji as Its First Chief Economist
15 hours ago
We have long recognised and experienced Khalistani extremism, says Canadian MP Chandra Arya
15 hours ago
Canada: Dissident MPs call for Trudeau's resignation, deadline set for October 28
15 hours ago
US-India partnership vital for preserving peace in Indo-Pacific region: Former White House official Lisa Curtis
16 hours ago
Threats to U.S. Democracy: A Viewpoint
16 hours ago
Justice Siddaiah Rachaiah appointed permanent judge in Karnataka HC
17 hours ago
Alia Bhatt turns makeup artist, asks fans, “Kisko tutorial chahiye?”
17 hours ago
Dharmendra bonds with ‘diehard’ fan on holiday