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Spice Jet Q4 loss increased to 321.51 cr.


SpiceJet on Saturday 17th march 2013 reported a net loss of Rs. 321.51 cr for the quarter ended March 2014, due to depreciated rupee, economic slowdown and shorten demand.

 SpiceJet had posted a net loss of Rs. 185.71 cr for the corresponding quarter a year ago, it said in a filing to the BSE. Total income from operations during the quarter under review increased 8.4 % to Rs. 1,589.61 cr from Rs. 1,466.74 cr a year ago.

 FY 2013-14, SpiceJet's loss was at Rs. 1,003.24 crore, as against Rs. 191.07 cr last year. Total income rose 11.51 % to Rs. 6,356.11 cr from Rs. 5,699.78 cr.

 "SpiceJet is well into the process of executing on a re-structuring and transformation plan to position it well as market conditions improve, and to take on the challenge of new entrants that are expected to enter the market," the carrier said.

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