SpiceJet share price fell more than 11 percent intraday on August 16 after company's net losses widened in the quarter ended June 2021.
The company on August 13, posted a consolidated net loss of Rs 731.12 crore for Q1FY22 against a loss of Rs 600.52 crore in the same quarter last year.
Total revenue from operations more than doubled to Rs 1,125 crore for the quarter under review against Rs 521 crore in Q1FY21.
The company reported EBIDTAR loss of Rs 104 crore.
The company’s business operations were significantly hit during the quarter due to the continued impact of COVID‐19 which has had seriously impacted travel demand during the said period.
The company's logistics platform SpiceXpress earned a net profit of Rs 30 crore. Revenue for the segment surged 285 percent to Rs 473 crore from Rs 166 crore in the same quarter last year.
Domestic air passenger traffic surged by 60.84 percent in July as compared to June, the Directorate General of Civil Aviation (DGCA) said on August 13.
At 11:33 hrs, SpiceJet was quoting at Rs 69.05, down Rs 2.85, or 3.96 percent on the BSE.
The share touched a 52-week high of Rs 107.95 and a 52-week low of Rs 45.60 on 14 December, 2020 and 25 September, 2020, respectively.
Currently, it is trading 36.04 percent below its 52-week high and 51.43 percent above its 52-week low.
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