NEW DELHI Nov 12 SpiceJet Ltd, India's second-biggest budget airline by market share, narrowed losses by 31.7 percent in the July-September quarter, benefiting from massive cuts in capacity by troubled rival Kingfisher Airlines.
SpiceJet said on Monday it lost 1.64 billion rupees ($30 million) in the quarter that ended on Sept. 30, compared with a loss of 2.40 billion rupees a year ago. ($1 = 54.7550 Indian rupees) (Reporting by Anurag Kotoky; Editing by Sunil Nair)
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Indian companies are posting their best earnings results since PM Narendra Modi swept to power two years ago, giving the clearest sign yet that India's fast, but patchy, economic growth is becoming more broad-based. Full Article