Spicejet net dips to Rs 94 cr

Low-cost carrier SpiceJet reported a net profit of Rs94.4 crore for the quarter ended December 2010. The airline had posted a net profit of Rs108.9 crore in the October-December quarter last fiscal. The company said the decline in the profit was on account of the increase in fuel prices and taxes the company paid this year.

The Gurgaon-based carrier is India's only profitable listed airline and has declared a profit for the last five successive quarters.