Chennai, May
30:
SpiceJet Ltd
has posted a loss of Rs 249 crore for the quarter ended March 31, 2012,
compared with a loss of Rs 59 crore for the comparable previous period. The
falling value of the rupee, high fuel prices and the “significant tax burden”
were cited as major reasons for the higher losses.
These issues
continued to hurt the entire domestic aviation sector, says a company release.
Higher
passenger yields
However, for
the quarter, the company posted 46 per cent growth in revenue from operations
at Rs 1,113 crore (Rs 760 crore), and an 18 per cent growth in passenger yields
to Rs 3,816, from Rs 3,237 in the corresponding previous period. The past 12
months have been exceptional and the Indian aviation industry witnessed
unprecedented levels of financial stress.
“Some relief
was there in recent months and we are confident of the future, particularly as
we will launch numerous international routes soon,” said Mr Neil Mills, CEO of
the company.
Direct ATF
import
And on the cost
side, he said direct import of ATF is just about to commence, which will help
to reduce the airline's effective fuel cost.
According to
the release, the load factor during the March 2012 quarter came down to 74.4
per cent from 81 per cent during the same period last year. But, the company's
market share in March 2012 increased to 17.1 per cent from 13.6 per cent in
March 2011.
For the full
year ended March 31, 2012, it posted 36 per cent growth in revenue from
operations at Rs 3,998 crore (Rs 2,938 crore); and incurred a net loss of Rs
605 crore compared with a net profit of Rs 101 crore in the previous year.
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