Business

SpiceJet Reports Rs 807 Crore Loss In March Quarter

SpiceJet Reports Rs 807 Crore Loss In March Quarter

SpiceJet on Wednesday reported a net loss of Rs 807.08 crore for the quarter ended March 31, due to weak demand and suspension of flight operations due to the coronavirus pandemic. The private sector airline had reported a net profit of Rs 56.29 crore for the corresponding period a year ago. In a regulatory filing during market hours, the carrier said its total income came in at Rs 3,057.34 crore in the fourth quarter of financial year 2019-20, up 19.64 per cent compared to the year-ago period. 

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SpiceJet's total expenses - including aircraft fuel and maintenance costs, employee benefits and finance costs -  stood at Rs 3,864.42 crore in the January-March period, up 53.62 per cent compared to the quarter ended March 31, 2019.

SpiceJet shares ended 1.15 per cent higher at Rs 48.50 apiece on the BSE after the earnings announcement, outperforming the benchmark S&P BSE Sensex index which fell 1.10 per cent.