SpiceJet Q1 results: Airline reports net loss of Rs 593 crore
NEW DELHI: SpiceJet NSE -1.50 % today said that it has reported a net loss of Rs 593.4 crore in the first quarter of the current fiscal as against a profit of Rs 261.7 crore in the same quarter of the previous year, as flight operations remained suspended for most part of the quarter following the nationwide lockdown announced by the Modi government.
During the April-June quarter, domestic airlines were not operating starting end of March till the end of May due to lockdown and the market leader, IndiGo NSE -1.53 %, reported a net loss at Rs 2,844.3 crore during the same period.
