SpiceJet Q4 loss widens to Rs 249-cr

Chennai: SpiceJet Ltd has posted a loss of Rs 249 crore for the quarter ended March 31, 2012, compared with a loss of Rs 59 crore for the comparable previous period. The falling value of the rupee, high fuel prices and the “significant tax burden” were cited as major reasons for the higher losses.
These issues continued to hurt the entire domestic aviation sector, says a company release.
However, for the quarter, the company posted 46 per cent growth in revenue from operations at Rs 1,113 crore (Rs 760 crore), and an 18 per cent growth in passenger yields to Rs 3,816, from Rs 3,237 in the corresponding previous period. The past 12 months have been exceptional and the Indian aviation industry witnessed unprecedented levels of financial stress.
30/05/12 Business Line

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Categories: spicejet May 2012