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Our Bureau

New Delhi, July 30

A higher operating income, large net forex fluctuation gain and profits from sale of aircraft has helped low-cost airline Spicejet to report a net profit of Rs 18.54 crore for the quarter ended June 30, as compared to net loss of Rs 3.42 crore in the same quarter last year. For the period under review, the company’s net sales/income from operations was recorded at Rs 265.3 crore up from Rs 172.0 crore previously. The total income stood at Rs 311.4 crore during the first quarter (Rs 175.5 crore). Meanwhile, the airline has informed the Bombay Stock Exchange that Mr Siddhanta Sharma would be designated as Executive Chairman.

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