SpiceJet Q1 loss totals Rs 593 crore as flights remain suspended
Low-cost carrier SpiceJet on Tuesday reported a net loss of Rs 593 crore in the first quarter of FY21 against a profit of Rs 262 crore in the same quarter of previous year as flight operations remained suspended following the nationwide lockdown.
Operating revenue was Rs 515 crore as against Rs 3,002 crore in the same period. For the same comparative period, operating expenses were Rs 1,303 crore as against Rs 2,887 crore.
On an EBITDA basis, the loss was Rs 11 crore in Q1 FY21 as against a profit of Rs 748 crore in Q1 FY20. On an EBITDAR basis, the profit was Rs 13.5 crore as against a profit of Rs 812 crore for the same quarter last year.
The airline said the present operating environment on account of COVID-19 though does not reflect the true comparison of the current results with those of corresponding quarter last year.
