New Delhi, Jan. 21: Budget carrier SpiceJet today reported a net profit of Rs 102 crore for the third quarter ended December 31, 2012 against a net loss of Rs 39.26 crore in the same period.

The Kalanithi Maran-promoted airline attributed the financial turnaround to more international flights, which gave better yields per seat at a relatively lower cost of fuel bought abroad. Higher ticket prices also led to a rise in passenger yields.

“It is a significant achievement. The higher components of international flights and a 29 per cent increase in passenger yields have tremendously helped the airline,” said Neil Mills, chief executive officer of SpiceJet.

The airline’s domestic market share in December 2012 grew to 19.20 per cent from 16.80 per cent a year ago.

Revenues increased 37 per cent to Rs 1, 603 crore from Rs 1, 173 crore in the corresponding quarter of 2011-12.

According to aviation analysts, SpiceJet’s quarterly result has raised its chances of attracting foreign direct investment (FDI). The airline is reportedly in talks with a few investors.

Company officials said fuel cost as a proportion of the total revenue fell to 45 per cent in the current quarter against 50 per cent in the year-ago quarter.

SpiceJet is aggressively expanding its domestic and international network. At present, it has a fleet of about 51 aircraft, including 15 Q400 NextGen turboprop made by Bombardier.

Last November, SpiceJet won flying rights to international destinations such as Al Najaf from Lucknow and Varanasi, and Macau and Ho Chi Minh City from New Delhi.

Shares of the airline today surged nearly 8 per cent in intra-day trade before ending at Rs 46.15, up 5.01 per cent on the Bombay Stock Exchange.

HDFC show

Housing Development Finance Corporation (HDFC) today reported a 16 per cent jump in standalone net profit for the third quarter in line with analyst estimates. Net profit rose to Rs 1,140.10 crore from Rs 981.25 crore in the same period last year.

Growth in profit came on the back of a robust jump in its advances. As on December 31, 2012, the loan book stood at Rs 1,60,941 crore against Rs 1,32,208 crore on December 31, 2011.

According to HDFC, the spread on loans over the cost of borrowings for the nine-month period stood at 2.28 per cent. Net interest margin during the nine-month period was 4.1 per cent.

Gross non-performing loans as on December 31 amounted to Rs 1,224 crore.