Spicejet Q3 net loss at Rs17.9 cr; shares plunge

Spicejet Q3 net loss at Rs17.9 cr; shares plunge
PTI
Comment E-mail Print Share
First Published: Mon, Feb 02 2009. 03 01 PM IST
Updated: Mon, Feb 02 2009. 03 01 PM IST
Mumbai: No-frills carrier Spicejet on Monday said its standalone net loss for the quarter ended 31 December 2008, stood at Rs17.9 crore.
The company had a net profit of Rs9.38 crore for the same quarter in the last financial year, Spicejet said in a filing to the Bombay Stock Exchange.
During the quarter ended 31 December, the company entered into a memorandum of settlement on 26 November 2008, as per the Delhi High Court order with the erstwhile promoter S.K. Modi Group to settle various litigations with them. This settlement has resulted in one-time non-operational loss of Rs18.8 crore.
Total income of the company rose to Rs528 crore for the quarter under review, against Rs439.3 crore in the same period last fiscal.
For the nine month ended 31 December 2008, the company has posted a net loss of Rs344.73 crore, against a net loss of Rs9.89 crore in the year-ago period.
Shares of Spicejet were trading at Rs13.35, down 4.64% on the BSE.
Comment E-mail Print Share
First Published: Mon, Feb 02 2009. 03 01 PM IST