New Delhi: Budget airline SpiceJet, which has surpassed Jet Airways to become the county’s second most valued aviation company, continued to retain the position today.
With a market capitalisation (m-cap) of Rs. 5,709.76 crore, SpiceJet, which was on the verge of going belly-up two years ago, for the second day stayed ahead of Jet that had valuation of Rs. 5,606.03 crore in the afternoon trade on BSE.
Shares of SpiceJet were trading 2.03 per cent higher, while those of Jet were up 2.53 per cent.
SpiceJet’s m-cap yesterday move up to Rs. 5,598 crore, which was Rs. 134 crore more than Jet’s Rs. 5,464 crore valuation.
InterGlobe Aviation, which operates Indigo, is the country’s most valued aviation company with a wide margin at a market cap of Rs. 36,652.89 crore.
SpiceJet’s share price has risen over 63 per cent so far this year, while that of Jet was up 38.47 per cent.
SpiceJet had reported 24 per cent fall in net profit to Rs. 181.1 crore in three months ended December 2016.
It operates 343 daily flights to 45 destinations – 39 domestic and six international – using a fleet of 32 Boeing 737NGs and 17 Bombardier Q-400s.
Jet Airways had reported a nearly 70 per cent plunge in net profit at Rs. 142.38 crore in the three months ended December 2016.