Shares of SpiceJet dipped 2 per cent to Rs 52.40 on the BSE on Wednesday after the company reported a consolidated net loss of Rs 593 crore in the April-June quarter (Q1FY21), with air travel segment reporting loss of Rs 642 crore for the quarter. It had posted a net profit of Rs 261.7 crore in the same quarter of the previous year.
In the past three months, SpiceJet has underperformed the market by gaining 4 per cent, against 16 per cent rally in the S&P BSE Sensex.
The company’s operating revenue declined to Rs 515 crore for the reported quarter as against Rs 3,002 crore in the same quarter last year as flight operations remained suspended for most part of the quarter following the nationwide lockdown.
