SpiceJet falls 2% as rising gasoline price, rupee fall weigh on financials

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Shares of SpiceJet fell over 2 p.c as traders reacted to the monetary outcomes posted in the course of the second quarter.

The inventory touched an intraday excessive of Rs 84.50 and an intraday low of Rs 82.00.

The airline posted a web lack of Rs 389.three crore for the September quarter towards a web revenue of Rs 105.2 crore that the airline posted throughout the identical quarter of final yr.

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Whole revenue has risen to Rs 1,880.86 crore, up four p.c yr on yr from Rs 1,811.four crore reported final yr.

The airline posted an working lack of Rs 321.5 crore in the course of the quarter towards an working revenue of Rs 139.5 crore final yr.

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Bills per ASKM elevated by 25% on account of 48% enhance in ATF and 10% enhance in alternate price, the airline stated in a press release.

The service reported a web loss on account of rising gasoline prices and rupee depreciation.

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The inventory has gained 17 p.c up to now one month, whereas up to now three days, it rose three p.c. At 10:22 hrs SpiceJet was quoting at Rs 82.80, down Rs 0.90, or 1.08 p.c, on the BSE.

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