SpiceJet’s Q2 standalone net loss of 389 cr

SpiceJet’s Q2 standalone net loss of 389 cr
Representational Photo

Mumbai: Budget passenger carrier SpiceJet on Wednesday reported a standalone net loss of Rs 389.37 crore for the quarter ended September 30, 2018.

The airline had reported a net profit of Rs 105.27 crore during the corresponding month of the previous fiscal.

“As an impact of strong cost pressures faced during this quarter, the company paid an amount of Rs 272 crore on account of increase in cost of aviation turbine fuel, Rs 78 crore on account of rupee depreciation and an amount of Rs 46 crore on account of forex losses on its obligations as compared to Q2 2017,” the airline said in a statement.

“Revenue performance remained disciplined and fell by only 1 per cent in spite of severe competition.”