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Corporate Nov 12, 2012

SpiceJet cuts losses by 32% to Rs 164 cr in Q2

Mumbai: No-frills carrier SpiceJet today narrowed its losses to Rs 163.52 crore in the September quarter helped by various cost control measures as well as a healthy 57 percent jump in sales.

The Chennai-based airline said in an exchange filing that its losses came down 32 percent from Rs 240.07 crore it had reported in the corresponding quarter last fiscal.

Spicejet trims losses. AFP

The Kalanithi Maran-promoted airline's net sales rose 57 percent at Rs 1,207 crore during the period under review as against Rs 766 crore a year ago.

Besides a 15.9 percent growth in passenger numbers, the airline also clocked a 48 per cent growth in its total departures, the airline said in a statement.

The third largest carrier by market share with 18.5 percent of the pie in September after IndiGo and Air India, SpiceJet said the average realisation per passenger during the reporting quarter also increased 37 percent.

PTI


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