SpiceXpress Q2 revenue up 5 percent to Rs 497 crore
SpiceXpress, the hived-off cargo business of SpiceJet, reported a 5 percent increase in revenue of Rs 497 crore for the second quarter ended September 30, 2021 compared to Rs 473 crore in the last quarter.
SpiceXpress carried more than 45,000 tonnes in Q2FY2022, five percent higher than 43,000 tonnes carried in Q1FY2022.
It is now operating a fleet of 17 aircraft including seven wide-body planes, an official statement said.
"The reported quarter though witnessed a negative cash flow as the continuing rise in fuel costs could not be passed on to our customers due to committed long-term contracts. These have now been re-negotiated and corrected to suit the present operating cost environment," the statement added.
SpiceJet reported a consolidated net loss of Rs 570 crore for the second quarter compared to Rs 731 crore in Q1FY22. While consolidated revenue from operations increased 20 percent to Rs 1,304 crore, expenses were up to four percent to Rs 2,103 crore.
