SpiceJet stock tumbles nearly 15% in early trade as loss widens in June quarter

NEW DELHI: Shares of SpiceJet tumbled nearly 15 per cent in early trade on Thursday after the company reported widening of net loss at Rs 789 crore for June quarter. The company’s stock tanked 14.65 per cent to Rs 39.60 on the BSE. Later, it recovered some of the lost ground and was trading at Rs 43.60, lower by 6.03 per cent.
SpiceJet on Wednesday reported widening of net loss to Rs 789 crore in June quarter 2022-23 as high fuel prices and rupee depreciation adversely impacted the budget carrier.
Facing financial turbulence, SpiceJet aircraft have been involved in a series of incidents in the past, following which the Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to the airline.