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Shares of SpiceJet on Tuesday (Nov 15) fell over 4 percent in morning trade after the firm reported widening of net loss to Rs 837.8 crore in the three months ended September.
The stock after a weak beginning, further declined 4.24 per cent to Rs 37.20 on the BSE.
SpiceJet reported widening of net loss to Rs 837.8 crore in the three months ended September, as record fuel prices and depreciating rupee caused turbulence for the budget carrier.
In the year-ago period, SpiceJet posted a net loss of Rs 561.7 crore. During that period, including a forex gain, the figure wasRs 568.7 crore, according to a release.
The airline said business in the second quarter of the current fiscal was "hit by record-high fuel prices, depreciating rupee in the traditionally weak quarter".
Excluding the forex loss, the airline’s net loss stood at Rs 577.7 crore in the latest quarter under review. In the year-ago period, SpiceJet posted a net loss of Rs 561.7 crore. During that period, including a forex gain, the figure was Rs 568.7 crore, according to a release.
-B
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