SpiceJet reports Rs 240-cr loss

SpiceJet reports Rs 240-cr loss

Last Updated: Sat, Nov 12, 2011 08:47 hrs
Maran to infuse 1.3 bln rupees in SpiceJet

SpiceJet Ltd has reported a Rs 240-crore net loss compared to Rs 10 crore profit in the same period last year. The airline's total income rose to Rs 766.5 crore from Rs 629 crore, a year ago.

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On the expenditure side, the airline has seen 83 per cent jump in aircraft fuel to Rs 478 crore compared to Rs 260.8 crore during the same period last year. Lease rentals rose 31 per cent to Rs 137.5 crore compared to Rs 104.3 crore while other expenditure went up 75 per cent to Rs 108 crore from Rs 61.6 crore.

Meanwhile SpiceJet's share rose 3.6 per cent on the Bombay Stock Exchange (BSE) to Rs 24.30 a share following reports that aviation stocks are shifting from debt-laden Kingfisher Airways to an almost debt-free SpiceJet.

According to the BSE data, SpiceJet had 531,300 shares in the total traded quantity (TTQ), as compared to the 375,900 fortnightly traded average. Total traded value was Rs 12.87 crore.

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On the other side, Kingfisher Airlines shares were down 9.5 per cent to Rs 19.7 per share.

SpiceJet said the company had issued 35,900,000 shares to Kalanithi Maran, promoter of the company, through preferential issue at a price of Rs 36.48 a share aggregating to Rs 130.96 crore through this issue.

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