SpiceJet sets up subsidiary for real estate biz
New Delhi: No-frills airline SpiceJet on Tuesday stated it has integrated a wholly-owned subsidiary that will have interaction in actual property enterprise.
The subsidiary ‘Canvin Actual Property Pvt Ltd’ has a paid capital of Rs 1 lakh.
In a regulatory submitting, the provider stated Canvin Actual Property is a newly integrated firm.
“The corporate has integrated this wholly-owned subsidiary which shall have interaction in actual property enterprise,” it added.
The provider has been engaged on methods to bolster its ancillary revenues.
Within the three months ended September this yr, SpiceJet posted a 79 p.c rise in internet revenue at Rs 105.28 crore helped by greater passenger revenues because the airline stayed worthwhile for the eleventh straight quarter.
It had a better whole earnings of Rs 1,838.49 crore within the second quarter of the present fiscal.
Shares of SpiceJet rose almost one p.c to shut at Rs 143.90 on the BSE.