SpiceJet drops after reporting net loss in Q4

The Q4 result was announced after market hours on Friday, 24 May 2013.

Meanwhile, the BSE Sensex was up 126.39 points or 0.64% at 19,830.72.

On BSE, 13.28 lakh shares were traded in the counter as against average daily volume of 37.73 lakh shares in the past one quarter.

The stock hit a high of Rs 36.95 and a low of Rs 35.30 so far during the day. The stock had hit a 52-week low of Rs 24.50 on 27 July 2012. The stock had hit a 52-week high of Rs 50.90 on 7 December 2012.

The stock had outperformed the market over the past one month till 24 May 2013, surging 20.96% compared with the Sensex's 2.74% rise. The scrip had also outperformed the market in past one quarter, rising 2.3% as against Sensex's 2.01% gain.

The small-cap air carrier has equity capital of Rs 520.28 crore. Face value per share is Rs 10.

SpiceJet's revenue rose 31% to Rs 1456 crore in Q4 March 2013 over Q4 March 2012.

SpiceJet's average passenger yield rose 8% to Rs 3,739 in Q4 March 2013 over Q4 March 2012.

SpiceJet said that the continued weakness of Indian Rupee, high fuel prices and significant tax burden continued to hurt the entire domestic aviation sector. However, SpiceJet said it was in Q4 March 2013 successfully able to grow passenger traffic by around 20%, outperforming the domestic industry passenger growth. However, the increase in fares was inadequate to fully absorb the impact of higher costs of operation, SpiceJet said in a statement.

SpiceJet reported net loss of Rs 191 crore in the year ended 31 March 2013 (FY 2013), as against net loss of Rs 606 crore in the year ended 31 March 2012 (FY 2012). Revenue rose 43% to Rs 5714.55 crore in FY 2013 over FY 2012.

Mr. Neil Mills, Chief Executive Officer, SpiceJet said, "The past twelve months have continued to be difficult and the Indian aviation industry witnessed increasing cost challenges particularly relating to airport charges as well as the adverse impact of the weakness of the rupee. We continue to be confident of the future, particularly as we have launched numerous international routes and this will improve the mix and performance in the future".

SpiceJet currently operates more than 330 daily flights to 42 Indian cities and 7 international destinations.

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