 "SpiceJet")
Low-cost carrier SpiceJet recorded a 24 per cent decline in net profit, at Rs 181.1 crore, in the quarter-ended December, from Rs 239.9 crore in the year-ago period.
The airline attributed it to the softening of demand due to demonetisation.
The airline’s total income from operations was Rs 1,642.4 crore, higher than Rs 1,460 crore earned during the same period last year. However, fuel cost increased to Rs 473.7 crore in the quarter against Rs 366.6 crore in the year-ago period.
Rising oil prices have started denting the profitability of Indian carriers.
Jet Airways reported a net profit of Rs
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