SpiceJet Posts Fifth Straight Quarterly Profit

SpiceJet Ltd, India's fourth-largest airline by market share, said its fourth-quarter net profit more than tripled on lower fuel prices and as it flew more passengers. SpiceJet's net profit jumped to Rs. 73 crore for the three months to March 31, from Rs. 22.5 crore a year earlier, even though the carrier took a one-time expense of Rs. 173 crore in the March quarter towards "stabilising and improving the reliability of its fleet". SpiceJet's operational revenue rose 86 per cent year-on-year to Rs1,475 crore in the March quarter.