Shares of SpiceJet on Monday declined nearly 12 per cent after the company reported a net loss of ₹729 crore for the quarter ended June.
The stock tumbled 11.61 per cent to ₹63.55 on BSE. Budget carrier SpiceJet on Friday reported a net loss of ₹729 crore for the quarter ended June as its flight operations were affected due to the second wave of the pandemic.
It had posted a net loss of ₹593 crore in the corresponding period of the previous financial year. The airline’s operating revenue stood at ₹1,266 crore in the first quarter of 2021-22, higher than ₹705 crore reported in the year-ago period, it said in a statement.
Also read: Regional airlines get representation at MoCA’s advisory group on a rotational basis
Operating expenses during the June 2021 quarter were ₹1,995 crore, compared to ₹1,298 crore earlier.
SpiceJet Chairman and Managing Director Ajay Singh said, “The last five quarters have been the most difficult phase ever for SpiceJet as aviation remained the worst-hit sector during the second wave as well.” The first quarter was severely impacted by the second wave as passenger traffic almost disappeared, he said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.