SpiceJet loses ₹562 crore in Quarter 2

MUMBAI: Low cost carrier SpiceJet has reported a loss of Rs 562 crore in the July-September quarter, up from a loss of Rs 113 crore in same period last year but a sharp reduction from the loss of Rs 729 crore this Q1 (April-June). The airline’s scrip closed at Rs 73.9, up 1% on BSE Friday, when the broader market was up 1.3%.
Revenue in Q2 was Rs 1,539 crore against Rs 1,266 crore in the last quarter, due to a recovery in air travel. SpiceJet CMD Ajay Singh said: “We have made excellent progress in our recovery and I expect this trend to continue.