SpiceJet shares fall on record September quarter loss

Nov 08 2013, 19:58 IST
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Low-cost carrier SpiceJet has reported a record loss of Rs 559 crore in the three months to September. Low-cost carrier SpiceJet has reported a record loss of Rs 559 crore in the three months to September.
SummaryThe low-cost carrier is controlled by media baron Kalanithi Maran's Sun Group.

Shares of SpiceJet fall as much as 6.3 per cent after the Indian airline posted a record quarterly loss due to high fuel prices and a weaker rupee during the July-September period.

SpiceJet, controlled by media baron Kalanithi Maran's Sun Group, said late on Thursday its net loss widened to 5.59 billion rupees for its fiscal second quarter ended September 30, compared with a net loss of 1.64 billion rupees in the same period last year.

Indian airlines have been struggling. Last month Jet Airways also reported a record quarterly loss for the three months ended September 30.

SpiceJet shares are down 4 per cent at 10.15 am, under-performing a 0.4 per cent fall in the Sensex.

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