SIA Group's net profit soars 12.7% QoQ to $628m in Q2FY22/23

The company attributed the increase to better operating performance, amongst others.

Robust travel demand has helped lift Singapore Airlines (SIA) Group's financial performance in Q2 FY22/23.

In Q2 FY22/23, SIA Group recorded a net profit of $628m which translates to an increase of 12.7% or $71m from the previous quarter.

The group attributed the increase to better operating performance (+$77m) and net interest income in the current quarter versus net finance charges in the previous quarter (+$71m).

The increase in net profit, however, was partially offset by a higher tax expense (-$90m). 

Apart from net profit, the group also saw its quarterly revenue rise in Q2, even to a record number. In Q2, SIA Group's revenue rose 8.0% QoQ to $4.8b.