SpiceJet reports 121% jump in 06-07 revenues

New Delhi, May 25 (UNI) SpiceJet Limited today said its revenues jumped 121 per cent to Rs 748 crore during June 1, 2006 to March 31, 2007 compared with Rs 339 crore in the same period previous year.

On operating levels, the company reported an income of Rs 640 crore and operating expenses of Rs 659 crore. The reporting period does not include two peak travel months of April and May.

The company said it has taken a conservative approach and adopted changes in accounting policies for certain capitalised and deferred items which have been now written off. But for these, the net loss would have been lower by Rs 5.4 crore.

During the reporting period, SpiceJet doubled its average deployed fleet to 8.17 aircraft versus 4.08 aircraft for comparable previous year. As of today, it operates 11 aircraft to 14 destinations.

The number of passengers flown has also increased by 95 per cent to 2.61 million compared to 1.34 million in the comparable period.

The company managed to improve net revenue per passenger to Rs 2,320 from Rs 2,209 in the previous year.

''Spicejet will add eight more aircraft to its fleet during the current year,'' said its chief financial officer Partha Sarathi Basu.

''The expanded capacity will deliver its potential business during the current year through growth in passenger numbers. With continued focus on cost and improved yields, the company targets to breakeven during the current financial year.'' UNI