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Chennai, May 28:

        Flying high is Spicejet with robust growth for the tenth month period of fiscal 2006-07.

        The company's total revenues for the period registered a growth of 121 per cent at Rs 748 crore against Rs 339 crore for comparable period of 10 months of previous financial year, (Rs 453 crore during last fiscal). The company will henceforth follow the tax fiscal year of April-March.

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

        It has taken a conservative approach and adopted changes in accounting policies for certain capitalized / 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 period, the company has doubled its average deployed fleet to 8.17 aircrafts versus 4.08 aircrafts for comparable previous year. As of today the company operates 11 aircrafts 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 comparable previous period.

        The company has managed to improve the net revenue / passenger to Rs 2320 from Rs 2209 in comparable previous year.

        While announcing the results, Partha Sarathi Basu, CFO, SpiceJet said that Spicejet will be adding 8 more aircrafts to its fleet during the current year. 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 achieve break-even during the current financial year.