Tag: spicejet

Shares of Airline operator SpiceJet moved higher by 15 percent to Rs 40.75 on the BSE in Friday's intra-day trade after the company’s standalone net profit jumped five-fold to Rs 107 crore in the December quarter (Q3FY23). It posted a profit of Rs 23.28 crore in the year-ago quarter (Q3FY22). The profits have been driven by a strong performance in both, passenger and cargo businesses. The company's revenue from operations jumped 2.4 percent to Rs 2,316.8 crore as against Rs 2,262.6 crore in the year-ago period. In Q2 FY23, the company reported a loss of Rs 833 crore on revenue of Rs 1,954 crore. Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (Ebitdar) stood at Rs 591 crore against a loss of Rs 387 crore in the previous quarter (Q2FY23). Read more

Shares of SpiceJet on Tuesday fell over 4 percent in morning trade after the firm reported a widening net loss to Rs 837.8 crore in the three months that ended September. The net loss of the company in the year-ago period was ₹570.5 crores. This is because of the cascading impact of a heavy increase in aviation turbine fuel expenses and foreign exchange losses due to the depreciating rupee combined with the effects of DGCA's order that made SpiceJet operate only 50% of its aircraft. Excluding the forex loss, the airline’s net loss stood at Rs 577.7 The consolidated revenue from operations rose by 45 percent to ₹1954.4 crores from ₹1345.4 crores in the year-ago period. For the same comparative period, operating expenses were Rs 2,942.6 crore as against Rs 2,100.4 crore,” the release said. Read more

Shares of aviation companies were under pressure as InterGlobe Aviation, which operates IndiGo airlines, SpiceJet, and Jetairways slipped up to 6.5 percent on the BSE in Thursday’s intra-day trade amid concerns of weak earnings due to rising fuel prices and falling rupee against the dollar. After the recent hike, jet fuel prices have reached an all-time high. For domestic airlines, ATF cost Rs 1,41,232.87 per kl in Delhi; Rs 1,46,322.23 per kl in Kolkata; Rs 1,40,092.74 per kl in Mumbai; and Rs 1,46,215.85 per kl in Chennai.Earlier, in May, ATF prices rose five percent to Rs 1.23 lakh per kilolitre in the national capital. The airline's CMD Ajay Singh said that aviation turbine fuel prices have gone up by more than 120 percent since June 2021, while adding this increase in ATF is sustainable for airlines, and central and state governments need to take action to reduce taxes. Read more

The Indian benchmark indices started nearly 0.5 percent higher today (15th Nov.2021) supported by firm global cues and broad-based buying back home. In early deals, the BSE Sensex quoted at 61,026 levels, up 339 points, while the Nifty50 was at 18,197 levels, up 94 points. Hero MotoCorp was among the top gainers on the Nifty index, up 3 percent, on a healthy operational performance in Q2. The company reported standalone Ebitda of Rs 1,156 crore, up from Rs 515 crore YoY, and higher than Street estimates of Rs 904 crore. Margins, meanwhile, came in at 13.5 percent, up from 9.4 percent YoY and Bloomberg estimate of 11.2 percent. In the broader markets, the BSE MidCap and SmallCap indices added up to 0.4 percent. Read more

Shares of budget airline SpiceJet gained as much as 13.6 % to hit a high of Rs 75.4 on the BSE on Thursday after the US Federal Aviation Administration gave clearance to fly Boeing 737 Max aircraft after two-years of grounding. The clearance was announced after a "comprehensive and methodical" 20-month review process, the regulator said. The regulators also said the clearance would not allow the plane to "return immediately" to the skies as the existing aircraft will need to be modified before going back into service, with changes to their design and will be ready to return to operations by the first quarter of 2021. With 13 of these aircraft grounded, SpiceJet has been in talks with Boeing for claims. In the second quarter, the airline has recognised Rs 138 crore of these claims as other income."SpiceJet can also receive compensation from Boeing for the 737 Max grounding, which could be in the range of Rs 1,000-1,200 crore," HSBC Global Research had said in a note on Wednesday. Read more

Aviation stocks Indigo and SpiceJet tanked as much as 11 per cent on the BSE on Monday after the government's Rs 20 trillion economic packages disappointed to deliver immediate liquidity support to the bleeding airlines and another extension of the lockdown. The share price of SpiceJet fell 5% to trade at Rs 43.45 per share while that of IndiGo tanked 11.3% to trade at Rs 882 apiece. The aviation industry has been one of the worst affected with the business under a complete shut down at present. Finance Minister Nirmala Sitharaman announced three measures for the sector, on Saturday, India would rationalise its air space for civil aviation purposes which, at present, is capped at 60 per cent. Besides, she said six airports will be privatised, private companies will make an additional investment of Rs 12,000 crore on 12 airports auctioned before, and tax structure will be rationalised for the Maintenance, Repair and Overhaul (MRO) industry. Read more