UPDATE: SpiceJet posts Rs. 240 Cr. loss in Q2 FY 2012 on rising fuel costs

Devesh Agarwal, financial, results, SpiceJet, Vinay Bhaskara

Gurgaon based low fare carrier SpiceJet has posted a loss of Rs. 240 Crore for the second quarter of fiscal 2011~2012, a sharp increase from the Rs. 72 Cr it had posted in the first quarter. The airline had posted a profit for the same quarter last year.

More details shortly

UPDATE: Partial financial results below

We will be doing a full financial analysis of SpiceJet's results over the weekend, pending the release of further details

Revenues grew 21.8% to 766.49 crores
Absolute fuel costs were up a whopping 83.3% on 30% capacity growth
Carried 28% more passengers
4.8% decrease in passenger yield to Rs 3317
Net loss of 240.07 crores, down from a profit of Rs. 10.11 crore in the previous year
40% growth in number of departures
Maintenance costs grew 32.6%

*All percent change figures are relative to the same quarter in FY 10-11

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