Spicejet announced a significant profit increase for the March quarter. The airline’s standalone profit after tax rose 173% YoY. This marks their highest ever quarterly profit. Spicejet also reported a full-year net profit after seven years. Improved yields and cost optimization drove the growth. The company’s Chairman, Ajay Singh, expressed confidence in Spicejet’s sustainable growth.
$20 billion of IPOs per year a new normal for India: JP Morgan
Initial public offerings worth USD 20 billion per annum are the “new normal” for India and will become an annualised run rate over the next