Accumulated losses at Spicejet eroded entire net worth - auditor

NEW DELHI Mon Nov 12, 2012 7:03pm IST

Construction workers erect scaffolding at the site of metro station as a SpiceJet Airlines aircraft flies past in the southern Indian city of Chennai May 14, 2012. REUTERS/Babu/Files

Construction workers erect scaffolding at the site of metro station as a SpiceJet Airlines aircraft flies past in the southern Indian city of Chennai May 14, 2012.

Credit: Reuters/Babu/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - Accumulated losses at SpiceJet (SPJT.BO) have fully eroded the net worth of the company as at September 30, its auditors said on Monday, after the second biggest budget carrier in India posted a quarterly net loss.

The company's ability to operate on a "going concern" basis is "significantly" dependent on establishing continued profitable operations and raising cash to meet short- and long-term obligations, the auditors said in a review report to the company.

(Reporting by Anurag Kotoky; Editing by Anupama Dwivedi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage