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Published on 16/09/2020 11:18:38 AM | Source: Angel Broking Ltd

Quote on SpiceJet Ltd By Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

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Below is the Quote on SpiceJet Ltd By Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

“Spicejet reported a net loss for Q1FY21 of Rs. 593.4 crore as compared to a profit of Rs. 261.7 crore in Q1FY20. During the quarter revenues were down sharply by 83% YoY to Rs. 514.7 crore.  Company posted an EBITDAR loss of Rs. 166.5 crore for the quarter as compared to profit of 684.2 crore in Q1FY20 despite cost control. Total operating costs for the quarter excluding lease rentals were down by 70.6% YoY to Rs. 681.2 crore. During the quarter the company maintained its 16% market share with a load factor of 66% despite the Covid-19 impact which resulted in 90% YoY contraction in ASKM. During the quarter the company increased its focus on cargo as a result of which revenues from cargo increased by 144% YoY to Rs. 165.9 crore while air transport service registered a degrowth of 88% YoY to Rs. 348.8 crore. The numbers were along expected lines as it was expected that the company would post a loss in Q1FY21 given sharp fall in air traffic.”

 

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