The budget airline carrier saw its revenue dip significantly as well, from Rs 1,708 crore in the June quarter last year to Rs 1,120 crore this fiscal.
In an official statement, SpiceJet management confirmed that performance in the quarter was impacted by several headwinds, including geopolitical turbulence.
All of this has put immense pressure on the SpiceJet stock, which has been under fire for quite some time. SpiceJet shares have tanked 33% in the past six months and over a one-year period, the stock has fallen almost 50%.
A Relative Strength Index of 57 suggests neutral market sentiment around the SpiceJet stock.
A total of four analysts are tracking the company, with one having a ‘buy’ rating. two have recommended ‘hold,’ while one suggest ‘sell,’ as per data compiled by Bloomberg.
