Wednesday, November 14, 2018

SpiceJet posts ₹ 389 cr loss on higher fuel prices, weak rupee

New Delhi: Rising cost of aviation turbine fuel and depreciation of rupee have seen SpiceJet, the Delhi-based low-cost airline post a net loss of ₹ 389.4 crore for the quarter ended September 30 this year. The airline had reported a profit of ₹  105.3 crore in the same period previously. 

In a statement, the airline said that it has witnessed an "Unexpected cost increase” of ₹ 396 crore in the quarter on account of fuel increase and currency depreciation.''

The statement added that the airline had paid ₹  272 crore on account of increase in the cost of ATF, ₹  78 crore on account of rupee depreciation and ₹  46 crore on account of forex losses on its obligations compared to the second quarter of 2017.

During the quarter, the airline's total income stood at ₹ 1,910.3 crore against ₹ 1,842 crore in the same quarter previously. Expenses stood at ₹ 2,299.7 crore against ₹ 1,736.7 crore.

EBITDA or earnings before interest, taxes, depreciation, amortisation before exceptional items stood at a loss of ₹ 310.4 crore against  ₹ 168 crore previously. EBITDAR or or earnings before interest, taxes, depreciation, amortisation rent/restructuring before exceptional items stood at a loss of ₹ 32.7 crore against ₹  409.6 crore previously.
14/11/18 Business Line

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