Spicejet net loss at Rs 17.9 cr for Dec qtr

No-frills carrier Spicejet said its standalone net loss for the quarter ended December 31, 2008, stood at Rs 17.9 crore.

Updated on: Feb 2, 2009, 13:33:13 IST

PTI | By HT Correspondent, Mumbai

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No-frills carrier Spicejet on Monday said its standalone net loss for the quarter ended December 31, 2008, stood at Rs 17.9 crore.

The company had a net profit of Rs 9.38 crore for the same quarter in the last financial year, Spicejet said in a filing to the Bombay Stock Exchange.

During the quarter ended December 31, the company has entered into a memorandum of settlement on November 26, 2008, as per the Delhi High Court order with the erstwhile promoter SK Modi Group to settle various litigations with them. This settlement has resulted in one-time non-operational loss of Rs 18.8 crore.

Total income of the company rose to Rs 528 crore for the quarter under review, against Rs 439.3 crore in the same period last fiscal.

For the nine month ended December 31, 2008, the company has posted a net loss of Rs 344.73 crore, against a net loss of Rs 9.89 crore in the year-ago period.

Shares of Spicejet were trading at Rs 13.35, down 4.64 per cent on the BSE.

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