Spicejet reports widening net loss in 4QFY2012
Spicejet reported a more than fourfold widening in net loss to INR2490 million (USD49.2 million) in the first three months of 2012, attributable to the falling value of the Rupee, high fuel prices and the “significant tax burden” (Reuters/The Hindu Business Line, 30-May-2012). Details include:
- Three months ended 31-Mar-2012:
- Operating revenue: INR11,130 million (USD220.1 million), +46% year-on-year;
- Net profit (loss): (INR2490 million) (USD49.2 million), compared to a loss of INR590 million (USD11.7 million) in p-c-p;
- Passenger yield: INR3816 (USD75.45), +18%;
- Load factor: 74.4%, -6.6 ppts;
- Market share: 17.1%, +3.5 ppts;
- 12 months ended 31-Mar-2012:
- Operating revenue: INR39,980 million (USD831.2 million), +36%;
- Net profit (loss): (INR6050 million) (USD125.8 million), compared to a profit of INR1010 million (USD21.0 million) in p-c-p.
*Based on the average conversion rate at USD1 = INR50.5757 for three months ended 31-Mar-2012
*Based on the average conversion rate at USD1 = INR48.0972 for 12 months ended 31-Mar-2012
SpiceJet: “Some relief was there in recent months and we are confident of the future, particularly as we will launch numerous international routes soon,” Neil Mills, CEO. Source: The Hindu Business Line, 30-May-2012.