New Delhi: Budget airline SpiceJet on Friday reported a loss of Rs 240 crore for the second quarter of the fiscal, on spiralling fuel prices and a weakening rupee.
During the quarter ended September 30, 2010, SpicJet had a net profit of Rs 10 crore.
"The traditionally weak July-September quarter was mademore challenging this year by high fuel prices, depreciating rupee and an irrational pricing environment," airline's CEO Neil Mills said in a statement.
The airline further said that aircraft fuel expenses were 83 percent higher than same period last year and fuel cost constituted 63 percent of the total revenue in the current quarter as compared to 43 percent in the comparable quarter for the previous year.
Shares of SpiceJet closed at Rs 24.30, up 3.62 percent on the BSE.
First Published: Friday, November 11, 2011, 22:25