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Spicejet flies higher on clearing tax dues for 2013-14

SpiceJet Ltd. | Airlines | Travel & Hospitality | BSE: 500285 | NSE: SPICEJET

27 Nov 2014 Evaluate

Spicejet is currently trading at Rs. 15.37, up by 0.12 points or 0.79% from its previous closing of Rs. 15.25 on the BSE.

The scrip opened at Rs. 15.45 and has touched a high and low of Rs. 15.78 and Rs. 15.05 respectively. So far 2393513 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 22.20 on 26-May-2014 and a 52 week low of Rs. 11.10 on 13-Aug-2014.

Last one week high and low of the scrip stood at Rs. 16.76 and Rs. 13.63 respectively. The current market cap of the company is Rs. 927.95 crore.

The promoters holding in the company stood at 53.48 % while Institutions and Non-Institutions held 0.83 % and 45.69 % respectively.

SpiceJet has cleared all service tax and income tax dues for 2013-14 amounting to Rs 400 crore in the past three months. The company diverted money allocated for operational expenses to clear these statutory dues, a key reason behind the low-cost carrier returning aircraft to lessors.

The SpiceJet airline's fleet has come down from about 35 Boeing aircraft till June to 24, of which 22 are operational and two are grounded. This has led to a reduction of over 40 flights a day, from 345 a day in June. Spice Jet had cleared that its business turnaround will be complete only after the airline is recapitalised. It is estimated that the company requires around Rs 1,500 crore capital infusion to revive its full operations.

SpiceJet is India’s most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates flights to over 44 Indian cities and 9 international destinations. Spice Jet reported 45% reduction in losses to Rs 310.40 crore during Q2FY15.

SpiceJet Share Price

13.71 -0.17 (-1.22%)

20-Apr-2026 11:30 View Price Chart

Peers

Company Name	CMP
Interglobe Aviation	4653.10
SpiceJet	13.71
Raymond	424.30
Global Vectra Helico	199.85
Taneja Aerospace	279.20
View more..

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Spicejet flies higher on clearing tax dues for 2013-14

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