SpiceJet shares surge nearly 13 per cent

Shares of low-cost carrier SpiceJet today climbed nearly 13 per cent, in-line with a strong stock market, ignoring the disappointing June quarter earnings.

SpiceJet’s scrip zoomed 12.60 per cent to settle at Rs 13.49 on the BSE. In intra-day, the stock surged 13.52 per cent to Rs 13.60.

On the volume front, 74.42 lakh shares of the company changed hands at the BSE during the day.

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SpiceJet had on Thursday reported a net loss of Rs 124.10 crore for the three months ended June, mainly bogged down by higher expenses.

The no-frills carrier had a net profit of Rs 50.56 crore in the year-ago period.

In the first quarter of current fiscal, the airline saw its total income from operations slide to Rs 1,691.04 crore from Rs 1,701.54 crore recorded in the same period a year ago.

Besides, the company’s expenses climbed to Rs 1,782.95 crore in the latest June quarter. In the comparable period, the same stood at Rs 1,641.93 crore.

Meanwhile, in the broader market the BSE Sensex ended at 26,390.96, up 287.73 points.