SpiceJet reported a net loss of Rs 316.08 crore in standalone terms during the financial year 2019-18. The air carrier had posted a profit of Rs 566.66 crore during the financial year 2017-18.
A weak rupee and skyrocketing fuel prices during the second quarter of FY19 drove the company into red, SpiceJet said in a filing to the Bombay Stock Exchange.
"The loss of Rs 3,160.8 million in the current year is largely a result of adverse foreign exchange rates and fuel prices, during the second quarter of the financial year. As a result of various operational, commercial and financial measures implemented over the last four years, the Company has significantly improved its liquidity position, and generated operating cash flows during that period," SpiceJet said in its statement.
During the fiscal under review, SpiceJet reported Rs 9,113.25 crore as total revenue from operations during FY19, as opposed to Rs 7,755.69 crore during FY18. The total income of the company for the fiscal under review was Rs 9,258.03 crore, compared to Rs 7,888.25 crore in the previous fiscal.
On the expenses front, SpiceJet saw its operating expenses on aircraft fuel and aircraft maintenance costs go up to Rs 3,445.25 crore and Rs 1,504.26 crore, respectively.
On a quarterly basis, SpiceJet posted a 22 per cent increase in net profit for the quarter ended March 31, 2019. The airline reported a net profit of Rs 56.29 crore in the March quarter of FY 19, as opposed to Rs 46.15 crore during the corresponding quarter last year.
28/05/19 Business Today
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A weak rupee and skyrocketing fuel prices during the second quarter of FY19 drove the company into red, SpiceJet said in a filing to the Bombay Stock Exchange.
"The loss of Rs 3,160.8 million in the current year is largely a result of adverse foreign exchange rates and fuel prices, during the second quarter of the financial year. As a result of various operational, commercial and financial measures implemented over the last four years, the Company has significantly improved its liquidity position, and generated operating cash flows during that period," SpiceJet said in its statement.
During the fiscal under review, SpiceJet reported Rs 9,113.25 crore as total revenue from operations during FY19, as opposed to Rs 7,755.69 crore during FY18. The total income of the company for the fiscal under review was Rs 9,258.03 crore, compared to Rs 7,888.25 crore in the previous fiscal.
On the expenses front, SpiceJet saw its operating expenses on aircraft fuel and aircraft maintenance costs go up to Rs 3,445.25 crore and Rs 1,504.26 crore, respectively.
On a quarterly basis, SpiceJet posted a 22 per cent increase in net profit for the quarter ended March 31, 2019. The airline reported a net profit of Rs 56.29 crore in the March quarter of FY 19, as opposed to Rs 46.15 crore during the corresponding quarter last year.
28/05/19 Business Today
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