Business Daily from THE HINDU group of publications
Tuesday, Apr 03, 2007
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Business Daily from THE HINDU group of publications Tuesday, Apr 03, 2007 ePaper |
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Corporate Results
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Airlines Logistics - Financial Performance SpiceJet posts Rs 21.4 cr loss in Q3 Our Bureau
New Delhi April 2 The low cost airline SpiceJet has reported a net loss of Rs 21.37 crore for the quarter ended February 28 this year. The airline had reported a profit of Rs 4.01 crore during the same period during the previous year mainly on account of other income of Rs 18.66 crore. The unaudited financial results for the quarter showed the airline recorded other incomes of Rs 31.65 crore including booking a profit of Rs 18.62 crore from sale and lease back of two aircraft. During the quarter ended February 28 this year, the airline's operating expenses touched Rs 232.46 crore mainly on account of the upward movement in the price of aviation turbine fuel, officials said. During the quarter ended February 28 last year, the airline had reported operating expenses of Rs 111.62 crore. The airline reported income from operations of Rs 246.04 crore during the quarter up from Rs 132.08 crore recorded during the same period in the previous year. "The operating loss is mainly on account of the high cost of aviation turbine fuel. The airline fuel bill for the nine-month period ending February this year stood at Rs 317 crore," an airline official said. For the nine-month period ended February 28 this year, the airline made a net loss of Rs 57.7 crore.
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