SpiceJet hits 52-week low; stock skids 37% in three months

Shares of SpiceJet hit a 52-week low of Rs 89.20, down 3%, extending its 17% decline in past 10 trading sessions on the BSE, in otherwise strong market on concerns of weak set of financial numbers for the quarter ending June 2018 (Q1FY19). Indian budget airline not yet declare the date for announcement of its quarterly numbers. In past three months, SpiceJet has underperformed the market by falling 37%, as compared to 12% rise in the S&P BSE Sensex. InterGlobe Aviation (owner of airline IndiGo) had reported a 96% decline in net profit at Rs 278 million in Q1FY19 owing to adverse impact of foreign exchange and high fuel prices. Analysts had expected net profit of Rs 5 billion from the budget carrier for the quarter.

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