SpiceJet swung to a profit in the June quarter from a year-ago loss with a revival plan put in place by returning promoter Ajay Singh seeming to take effect as the airline was able to fill a greater proportion of seats on its planes and pruned costs.
The no-frills carrier, still emerging from a brush with insolvency under previous promoter Kalanithi Maran, posted a profit of Rs.71.80 crore in the April-June period, having made a loss of Rs.124.1 crore in the year earlier.
This is SpiceJet's second profitable quarter in a row, having posted a net income of Rs.22.5 crore in the fourth quarter of the last fiscal.That was its first profit after six quarters.
The company said it has been able to improve its performance by making sure that fewer seats went empty and reducing flights.
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