scorecardresearchEarnings Impact: SpiceJet shares decline over 4% after Q2 loss

Earnings Impact: SpiceJet shares decline over 4% after Q2 loss

Updated: 15 Nov 2022, 11:53 AM IST
TL;DR.
  • Shares of SpiceJet, after a weak beginning, further declined 4.24 percent to 37.20 on the BSE.
A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad in 2016. (REUTERS File Photo)

A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad in 2016. (REUTERS File Photo)

(PTI) Shares of SpiceJet on Tuesday fell over 4 percent in morning trade after the firm reported widening of net loss to 837.8 crore in the three months ended September.

The stock, after a weak beginning, further declined 4.24 per cent to 37.20 on the BSE.

SpiceJet on Monday reported widening of net loss to 837.8 crore in the three months ended September, as record fuel prices and depreciating rupee caused turbulence for the budget carrier.

Excluding the forex loss, the airline's net loss stood at 577.7 crore in the latest quarter under review.

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Spicejet share price chart

In the year-ago period, SpiceJet posted a net loss of 561.7 crore. During that period, including a forex gain, the figure was 568.7 crore, according to a release.

The airline said business in the second quarter of the current fiscal was "hit by record-high fuel prices, depreciating rupee in the traditionally weak quarter".

"Total revenue for the reported quarter was 2,104.7 crore as against 1,538.7 crore in the same quarter of the previous year. For the same comparative period, operating expenses were 2,942.6 crore as against 2,100.4 crore," the release said.

A MintGenie poll of 6 analysts have a ‘hold’ call on the stock.

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First Published: 15 Nov 2022, 11:53 AM IST