SpiceJet shares continue to fly high; gain 6.5%

Mumbai, Jul 29: Shares of budget carrier SpiceJet rose 6.5 per cent on Wednesday after the company posted second straight quarterly profit at Rs 71.8 crore for the three months ended June, 2015.

The stock gained 6.57 per cent to Rs 28.35 -- its 52-week high -- at the BSE. In the previous session also, the stock had gained nearly 6 per cent. [Red Hot Monsoon Sale: Grab your SpiceJet ticket at Rs 999 only!]

SpiceJet, which was on the verge of closure late last year, yesterday posted second straight quarterly profit at Rs 71.8 crore for the three months ended June, 2015 on lower expenses and higher seat occupancy.

Announcing the quarterly earnings, the Gurgaon-based airline also said it plans to buy new aircraft for fleet expansion.

The low-cost carrier had posted a net loss of Rs 124.1 crore in the April-June quarter of 2014-15 fiscal.

Snapping seven-straight quarters of loss, the budget carrier returned to the black with a Rs 22.1 crore net profit in the three months ended March, 2015 after original promoter Ajay Singh took control.

PTI