SpiceJet posts highest quarterly net profit

In a filing with stock exchanges, the company said its total income also rose 10 percent to Rs.2,318 crore while the earnings per share went up by Rs.9.3 – showing an increase of 7 percent over the like period of the previous year.

Budget passenger carrier SpiceJet on Friday reported its highest ever quarterly net profit at Rs.238.40 crore – for the third quarter of the current fiscal.

Shares of Biocon’s contract research arm Syngene International soared almost 8% as the company has reported a 31.25% rise in its net profit for the third quarter ended December.

Aircraft fuel expenses dropped almost 35 per cent to Rs 366.63 crore in the 2015 December quarter compared to Rs 562.37 crore in the same period a year ago.

“The airline recorded a load factor of 91.6 per cent for the quarter, the highest in the industry”.

“Progress made in biosimilars and novel programmes is reflected in the increase in research and development (R&D) spends this quarter (Q3) to Rs. 68 crore from Rs. 47 crore year ago, up 45 percent YoY”, Shaw said. “The company will continue to work on reducing legacy cost and increasing efficiency”, said Ajay Singh.