SpiceJets (SJ) 2QFY17 revenue grew by robust 34.6% to Rs 14bn, in-line with expectations. Passenger & ancillary revenue increased by 35.2% & 27.4%. ASKM/RPKM (scheduled) was up by 33/34% YoY and -1.1/-1.3% QoQ. The contribution of Non-schedule (Chartered plane) ASKM was 3%. Yield increased marginally to Rs 3.5 but was better than peers.