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SpiceJet Q2FY22 Results: Net loss widens to Rs 571 crore; revenue surges 26% YoY
The consolidated net loss of the aviation company SpiceJet widened, while the revenue was reported in the double-digit growth year-on-year.
The consolidated net loss of the aviation company SpiceJet widened, while the revenue was reported in the double-digit growth year-on-year during the second quarter of the financial year 2021-22 (Q2FY22).
SpiceJet reported a consolidated net loss of Rs 570.5 crore in Q2FY22 as compared to a loss of Rs 108.5 crore in Q2FY21, while the total revenue from operations during the quarter grew 25.7 per cent YoY to Rs 1345.4 crore in the September-end quarter versus Rs 1070.5 crore in Q2 of previous fiscal.
The airline contributed the widening of losses to the Covid-19-led restrictions and grounding of the Boeing Max 737 since 2019. SpiceJet said, “The impact of the Covid-19 is not specific to the Group but is applicable across the entire aviation industry within and outside India.”
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