Delhi-based low-cost airline SpiceJet has seen its net profit dip by 77 per cent to Rs. 55.1 crore for the quarter ended December 31, 2018 on account of increase in cost of crude oil and the depreciation of the rupee against the dollar. The airline had reported a net profit of Rs. 240 crore during the same period the previous year.
In a statement, the airline said that a strong 8 per cent increase in passenger yield helped it to partially offset the 34 per cent increase in crude oil prices and the 11 per cent depreciation of the rupee against the dollar.
