SpiceJet posts net loss of Rs 3.89 bn in Q2 on higher fuel cost, weak rupee

Standalone net loss, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, was Rs 3.89 billion

SpiceJet aircraft, Mumbai airport — A domestic SpiceJet aircraft is seen off the runway after it skidded off into the unpaved surface during heavy rains in Mumbai.

Last Updated : Nov 14 2018 | 2:55 PM IST

Low-cost carrier SpiceJet Ltd reported its second straight quarterly loss on Wednesday, hurt by higher fuel expenses and depreciation in the rupee.

Standalone net loss, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, was Rs 3.89 billion ($53.90 million) in the quarter ended September 30. The company had posted a profit of Rs 1.05 billion a year earlier.

Aircraft fuel expenses climbed 55.8 per cent to Rs 8.45 billion, while total income from operations rose 3.8 per cent.

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First Published: Nov 14 2018 | 1:44 PM IST