Shares of SpiceJet on Tuesday tanked nearly seven per cent after the company suggested a 24 per cent fall in net revenue in three months ended December 2016.
The inventory plunged 6.seventy six per cent to finish at Rs 60 on BSE. all the way through the day, it slumped 7.69 per cent to Rs fifty nine.forty.
On the BSE, 67.seventy one lakh shares of the corporate had been traded all through the day.
the company’s market valuation fell by Rs 260.3 crore to Rs three,596.70 crore.
bogged down by using demonetisation and higher gas costs, SpiceJet on Monday pronounced a 24 per cent fall in web revenue at Rs 181.1 crore in three months ended December 2016 while the 2d biggest low-cost carrier remained within the black for the eighth straight quarter.
The airline had posted a net profit of Rs 238.39 crore in the corresponding quarter a yr ago.
the company said it might probably stay successful regardless of a softening of demand due to demonetisation and rising fuel costs.
The airline stated working earnings of Rs 1,642.4 crore as its seat load issue remained robust at 90.7 per cent, the perfect within the business.