This was the fifth straight quarter of losses. The firm had posted a net loss of Rs 559 crore in the corresponding quarter of the last financial year, the company said in a BSE filing.
Apprehending an uncertain future for the company, some 40-odd SpiceJet pilots including commanders have quit the airline during the past six months
The airline auditors in their recent report have cast doubts over the
ability of media baron Kalanithi Maran's budget carrier to run it as a
"going concern".
The airline's auditors SR Batliboi & Associated have red flagged its
concerns saying, "as of September 30, 2014, the company's total
liabilities exceed its total assets by Rs 1,459.7 crore. These
conditions indicate the existence of a material uncertainty that may
cast significant doubt about the company's ability to continue as a
going concern.
As of June
2014, the total debt on SpiceJet's balance sheet was Rs 1,516 crore,
while its net worth was negative - Rs 1,019 crore.
Again,
unlike, Kingfisher, SpiceJet made a profit many times over. In fact,
its top line has grown substantively over the last five years from a
fledgling Rs 2,222 crore in March 2010 to a healthy Rs 6,437 crore in
March 2014
No comments:
Post a Comment