Rare Ent buys 25 lkh shares of Spicejet for Rs 7.6cr

According to the data available with stock exchanges, Rare Enterprises bought 25 lakh shares of SpiceJet at a price of Rs 30.77 apiece, valuing the deal at Rs 7.69 crore. However, the seller of the shares could not be ascertained.

Meanwhile, SpiceJet reported a net profit of Rs 56 crore for the June quarter 2012 after posting five straight quarterly losses. The company had a net loss of Rs 71.96 crore in April-June period of 2011.

The company's revenues rose by 51% from the year-ago period to Rs 1,407 crore. Shares of the company jumped by more than 22% to
close at Rs 30.85 apiece on the BSE