SpiceJet suffers Rs 19 cr operating loss in ‘06-‘07

New Delhi: Low-cost carrier SpiceJet on Friday reported an operating loss of Rs 19 crore in 2006-07, but registered a robust growth of 121 per cent in its total revenue.
Announcing its audited results covering 10 months from June 1 last year to March 31, SpiceJet's CFO Partha Sarathi Basu said the company registered an income of Rs 640 crore and operating expense of Rs 659 crore, despite the fact that the reporting period did not include peak months of April and May.
On total revenue, he said it went up from Rs 339 crore in the 10-month period of the previous fiscal to Rs 748 crore in 2006-07.
Maintaining that the airline would now onwards follow the tax fiscal of April-March, Basu said the firm had adopted changes in its accounting policies "for certain capitalised/ deferred items which have now been written off. But for these, the net loss would have been lower by Rs 5.4 crore".
During the period, the carrier doubled its average deployed fleet (flights by each aircraft) to 8.17 as against 4.08 in the previous year.
25/05/07 PTI/Economic Times

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Categories: SpiceJet May 2007