SpiceJet shares fall on record September quarter loss

Reuters Posted online: Friday, Nov 08, 2013 at 0000 hrs
Mumbai : 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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