SpiceJet reports Rs.43 mn profit

New Delhi: With net sales of Rs.1.3 billion during the quarter ending February, India's low-cost SpiceJet airline reported a net profit of Rs.43 million ($964,000), against a net loss of Rs.213.6 million ($4.8 million) in the previous quarter.
The airline said Wednesday it had achieved net sales of Rs.1.3 billion against Rs.815.3 million in the last quarter. The airline's operating profit too improved to Rs.96.7 million. It had reported a loss of Rs.244.8 million in the previous quarter.
The airline's total turnover stood at Rs.1507.40 million in the quarter ended February, against Rs.821.70 million in the previous quarter. In the past year, SpiceJet placed orders worth nearly $2 billion to buy 30 Boeing jets. While it has raised around $70 million through foreign currency convertible bonds (FCCBs), it has been studying other options to fund the purchase.
29/03/06 Indo Asian News Service/DailyIndia.com

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