SpiceJet Q2FY23: Losses Continue | ET Now | Latest Updates | Business News
9SpiceJet reported its biggest-ever loss in the longest time in the second quarter of the financial year 2023. The loss amount was the biggest owing to lower revenue, higher fuel cost, and foreign exchange losses. On a sequential basis, SpiceJet’s revenue was down around 21%.
The company’s total borrowing plus vendor payables surged 17% compared to FY22 to Rs 4,253 cr. Against this, the company has cash of only Rs 58 crore and a negative net worth of Rs 5,910 crore. In the last 13 quarters, the company has reported losses in 11 of them.
Watch the video to know more.
#ETNow #SpiceJet #LatestNews
Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3
Subscribe Now To Our Network Channels :-
Times Now : http://goo.gl/U9ibPb
The NewsHour Debate : http://goo.gl/LfNgFF
To Stay Updated Download the Times Now App :-
Android Google Play : https://goo.gl/zJhWjC
Apple App Store : https://goo.gl/d7QBQZ
Social Media Links :-
Twitter - http://goo.gl/hA0vDt
Facebook - http://goo.gl/5Lr4mC
G+ - http://goo.gl/hYxrmj
Website - www.etnownews.com