SpiceJet stock ends lower post loss in June quarter

The company’s operating revenue was Rs514.7cr for the reported quarter as against Rs3,002.1cr in the same quarter last year.

Sep 16, 2020 04:09 IST India Infoline News Service

SpiceJet, India’s favourite airline and the largest air cargo operator, reported a net loss of Rs593.4cr in the first quarter of FY21 against a profit of Rs261.7cr in the same quarter of the previous year as flight operations remained suspended for most part of the quarter following the nationwide lockdown.  

The company’s operating revenue was Rs514.7cr for the reported quarter as against Rs3,002.1cr in the same quarter last year. For the same comparative period, operating expenses were Rs1,303.2cr as against Rs2,887.2cr.

On an EBITDA basis, loss was Rs11cr for the reported quarter as against profit of Rs747.5cr for the corresponding quarter last year. On an EBITDAR basis, the profit was Rs13.5cr for the reported quarter as against profit of Rs812.1cr for the same quarter last year. The present operating environment on account of Covid‐19 though does not reflect the true comparison of the current results with those of corresponding quarter last year.

SpiceJet Ltd ended at Rs53.10, down by Rs0.3 or 0.56% from its previous closing of Rs53.40 on the BSE. The scrip opened at Rs53.05 and touched a high and low of Rs54.90 and Rs52.30 respectively. A total of

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “This is the worst‐ever crisis to hit the aviation sector but I am pleased that SpiceJet continues to innovate and outperform the industry. Flight operations were suspended for most part of the quarter and the partial resumption of flights initially and the weak demand thereafter was a reminder of the significant problems that this pandemic has resulted in.”

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