SpiceJet dips 2% after reporting Rs 593 crore loss in June quarter

Shares of SpiceJet dipped 2 per cent to Rs 52.40 on the BSE on Wednesday after the company reported a consolidated net loss of Rs 593 crore in the April-June quarter (Q1FY21), with air travel segment reporting loss of Rs 642 crore for the quarter. It had posted a net profit of Rs 261.7 crore in the same quarter of the previous year.

In the past three months, SpiceJet has underperformed the market by gaining 4 per cent, against 16 per cent rally in the S&P BSE Sensex.

The company’s operating revenue declined to Rs 515 crore for