Low-cost carrier SpiceJet on Friday reported an operating loss of Rs 19 crore in 2006-07, but registered a robust growth of 121 per cent in its total revenue.
NEW DELHI: Low-cost carrier SpiceJet on Friday reported an operating loss of Rs 19 crore in 2006-07, but registered a robust growth of 121 per cent in its total revenue.
Announcing its audited results covering 10 months from June 1 last year to March 31, SpiceJet's CFO Partha Sarathi Basu said the company registered an income of Rs 640 crore and operating expense of Rs 659 crore, despite the fact that the reporting period did not include peak months of April and May.
On total revenue, he said it went up from Rs 339 crore in the 10-month period of the previous fiscal to Rs 748 crore in 2006-07.
Maintaining that the airline would now onwards follow the tax fiscal of April-March, Basu said the firm had adopted changes in its accounting policies "for certain capitalised/deferred items which have now been written off. But for these, the net loss would have been lower by Rs 5.4 crore".
During the period, the carrier doubled its average deployed fleet (flights by each aircraft) to 8.17 as against 4.08 in the previous year.
The airline, which currently operates 11 aircraft to 14 destinations, also experienced a hike in the number of passengers flown, which went up from 1.34 million to 2.61 million.
It would add eight more aircraft to its fleet in the current year.
Basu said the airline also managed to improve its net revenue per passenger to Rs 2,320 from Rs 2,209 in the previous year.
SpiceJet CEO Siddhant Sharma recently said the company was likely to break-even in April-June quarter this fiscal, besides making profits next year.
"We expect to break even in the first quarter of the current fiscal in the overall cost and even make profit. We are ferrying three million passengers this year and aim to double it to six million by next year," he had said on the occasion of completion of two years of the airline.
He also ruled out further dilution of company equity in the carrier.
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