New Delhi: Gurgaon-based low-cost airline SpiceJet Ltd, which posted a profit of Rs26.3 crore in the first quarter of this fiscal year, reported a loss of Rs101 crore on revenues of Rs465.29 crore for the quarter ending September. This loss, however, narrowed from Rs197.54 crore loss a year ago on revenues of Rs363.38 crore then, reflecting benefits of reduced oil prices.
The airline blamed the performance partly on the “lower yields” or airfare per passenger in what is considered the leanest quarter for airlines in the country. “The yield has started firming up during the third fiscal quarter and demand remains robust. We expect this trend to continue through the next quarter,” chief executive Sanjay Aggarwal, said in a statement.