AirAsia, Southeast Asia's largest budget carrier by fleet size, said Friday its fiscal first quarter net profit had risen by more than 150 percent on higher passenger volume.

The carrier said net profit in the quarter ended September 30 rose to 180 million ringgit (53 million dollars), up 157.1 percent from 70 million ringgit a year earlier.

Tony Fernandes, group chief executive officer, said AirAsia "once again delivered record profit growth despite operating in a very difficult economic environment characterised by record fuel prices."

"This is our 23rd consecutive profitable quarter," he said.

AirAsia said revenue in the first quarter rose 39 percent to 461.6 million ringgit from 332 million thanks to 25 percent growth in passenger volume and a 10 percent rise in average ticket prices.