You are here: Home » Companies » Results
Business Standard

SpiceJet reports Rs 240-cr loss

BS Reporter  |  Chennai 

SpiceJet Ltd has reported a Rs 240-crore net loss compared to Rs 10 crore profit in the same period last year. The airline's total income rose to Rs 766.5 crore from Rs 629 crore, a year ago.

On the expenditure side, the airline has seen 83 per cent jump in aircraft fuel to Rs 478 crore compared to Rs 260.8 crore during the same period last year. Lease rentals rose 31 per cent to Rs 137.5 crore compared to Rs 104.3 crore while other expenditure went up 75 per cent to Rs 108 crore from Rs 61.6 crore.

Meanwhile SpiceJet's share rose 3.6 per cent on the Bombay Stock Exchange (BSE) to Rs 24.30 a share following reports that aviation stocks are shifting from debt-laden Kingfisher Airways to an almost debt-free SpiceJet.

According to the BSE data, SpiceJet had 531,300 shares in the total traded quantity (TTQ), as compared to the 375,900 fortnightly traded average. Total traded value was Rs 12.87 crore.

On the other side, Kingfisher Airlines shares were down 9.5 per cent to Rs 19.7 per share.

SpiceJet said the company had issued 35,900,000 shares to Kalanithi Maran, promoter of the company, through preferential issue at a price of Rs 36.48 a share aggregating to Rs 130.96 crore through this issue.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, November 12 2011. 00:34 IST
RECOMMENDED FOR YOU
.