Budget carrier SpiceJet on Tuesday reported a net loss of Rs 600.5 crore for the first quarter ended June 30, owing to the suspension of flight operations due to the coronavirus-induced lockdown.
It had posted a net profit of Rs 262.8 crore in the corresponding period of the previous financial year.
The airline’s operating revenue stood at Rs 521 crore in the first quarter of 2020-21, significantly lower as against Rs 3,002.8 crore a year ago, it said in a statement.
Operating expenses during the June 2020 quarter were Rs 1,311.6 crore, compared to Rs 2,886.7 crore in the year-ago period.
SpiceJet Chairman and Managing Director Ajay Singh said, “Flight operations were suspended for the most part of the (first) quarter, and the partial resumption of flights initially and weak demand thereafter were a reminder of the significant problems that this pandemic has resulted in.”
