Shares of SpiceJet on Monday declined nearly 12 per cent after the company reported a net loss of ₹729 crore for the quarter ended June.
The stock tumbled 11.61 per cent to ₹63.55 on BSE. Budget carrier SpiceJet on Friday reported a net loss of ₹729 crore for the quarter ended June as its flight operations were affected due to the second wave of the pandemic.
It had posted a net loss of ₹593 crore in the corresponding period of the previous financial year. The airline’s operating revenue stood at ₹1,266 crore in the first quarter of 2021-22, higher than ₹705 crore reported in the year-ago period, it said in a statement.
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Operating expenses during the June 2021 quarter were ₹1,995 crore, compared to ₹1,298 crore earlier.
SpiceJet Chairman and Managing Director Ajay Singh said, “The last five quarters have been the most difficult phase ever for SpiceJet as aviation remained the worst-hit sector during the second wave as well.” The first quarter was severely impacted by the second wave as passenger traffic almost disappeared, he said.