• Saturday, August 13, 2022

Business

India’s SpiceJet records loss of £4.27 million in Q1

By: Radhakrishna N S

India’s low cost budget carrier SpiceJet recorded a net loss of 4.27 million GBP in the first quarter (Q1) of the financial year (FY) 2018-19 following depreciation of Indian Rupee and steep rise in fuel costs. The airline had reported a net profit of 19.64 million GBP during the same period last year, said the company in a regulatory filing. Net income rose 20 percent to 255.36 million GBP in the reporting quarter from 211.47 million GBP in April-June period last year. SpiceJet is the second domestic airline to release its financial data for the quarter ended in June after…

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