November 14, 2018 / 8:12 AM / 6 months ago

India's SpiceJet posts 2nd quarterly loss on higher fuel costs, weak rupee

Nov 14 (Reuters) - Low-cost carrier SpiceJet Ltd reported its second straight quarterly loss on Wednesday, hurt by higher fuel expenses and depreciation in the rupee.

Standalone net loss, which excludes results of units SpiceJet Merchandise and SpiceJet Technic, was here 3.89 billion rupees ($53.90 million) in the quarter ended Sept. 30. The company had posted a profit of 1.05 billion rupees a year earlier.

Aircraft fuel expenses climbed 55.8 percent to 8.45 billion rupees, while total income from operations rose 3.8 percent. ($1 = 72.1675 Indian rupees) (Reporting By Arnab Paul and Chris Thomas in Bengaluru; Editing by Sunil Nair and Subhranshu Sahu)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below