{"id":365521,"date":"2020-07-30T11:26:10","date_gmt":"2020-07-30T05:56:10","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365521"},"modified":"2020-07-30T11:26:10","modified_gmt":"2020-07-30T05:56:10","slug":"auditors-flag-risks-as-spicejets-losses-swell","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/auditors-flag-risks-as-spicejets-losses-swell\/","title":{"rendered":"Auditors flag risks as SpiceJet\u2019s losses swell"},"content":{"rendered":"<p>Auditors of SpiceJet Limited, S.R. Batliboi and Associates Llp, have raised doubts about the company\u2019s ability to continue as a going concern as the no-frills airline reported its highest ever quarterly loss during the March quarter primarily due to muted travel demand following the coronavirus outbreak, the grounding of Boeing 737Max fleet, and pricing pressures.<\/p>\n<p>\u201cThe company has incurred a net loss during the current and previous year and, its current liabilities exceeded its current assets in the balance sheet, till date. These conditions&#8230;indicate the existence of a material uncertainty that may cast significant doubt about the company\u2019s ability to continue as a going concern,&#8221; said S.R. Batliboi and Associates Llp. The auditors have been raising similar concerns about the airline during the past quarters.<\/p>\n<p>SpiceJet reported its highest ever quarterly loss of \u20b9807.07 crore in the March quarter, compared to a net profit of \u20b956.29 crore in the year-ago period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Auditors of SpiceJet Limited, S.R. Batliboi and Associates Llp, have raised doubts about the company\u2019s ability to continue as a going concern as the no-frills airline reported its highest ever quarterly loss during the March quarter primarily due to muted travel demand following the coronavirus outbreak, the grounding of Boeing 737Max fleet, and pricing pressures. \u201cThe company has incurred a net loss during the current and previous year and, its current liabilities exceeded its current assets in the balance sheet, till date. These conditions&#8230;indicate the existence of a material uncertainty that may cast significant doubt about the company\u2019s ability to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[188,139,130],"tags":[],"class_list":["post-365521","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365521"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365521\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}