Photo: BloombergNew Delhi: SpiceJet Ltd, India’s second-largest budget airline, on Wednesday posted a first-quarter net profit that more than doubled to Rs.149 crore from a year earlier. The airline had posted a net profit of Rs.73 crore for the same quarter last year. InterGlobe Aviation Ltd, owner of India’s biggest low-cost airline IndiGo, reported a 7.3% fall to Rs.591.77 crore in net profit for the June quarter due to cheaper fares and higher expenditure. Jet Airways (India) Ltd’s net profit fell 53.47% in the quarter, hit by higher operating expenses and lower sales. Net profit dropped to Rs.103.14 crore in the three months ended 30 June from Rs.221.70 crore in the year-ago quarter.

Source: Mint September 07, 2016 11:26 UTC