The stock price of Spicejet slipped into the red after it posted a  net loss of Rs.186 crore  but lower than the loss of Rs.249 crore for Q4FY12. This was despite the fact that its revenue rose 31% (YoY) at Rs.1456 crore. Its average passenger yield was up 8% at Rs.3739 crore. Load factor during the March, 2013 quarter was 76% from 74% during the same period last year. Its market share in March 2013 increased to 20.4% from 17.1% in March 2012. For FY13, the company’s net loss stood at Rs 191 crore against a net loss of Rs 606 crore in the prior year.

Rupee depreciation, high fuel prices and major airport tax outgo is what pulled down the company into losses, like always. Though the company had hiked its fares, it was still unable to absorb the cost of operations. The various Govt taxes is also one of the reasons why the sector is mired in red.  In Q4FY13, 54% of the net sales was eaten up by fuel charges, aircraft lease rentals ate away another 14%, airport charges were at 7%, up 43% on YoY. Aircraft maintenance charges are also pretty steep at 17% of net sales. Total operating expenses came in at Rs.1640 crore, up 24% (YoY).  The company currently operates 330 flights daily, to 42 Indian cities and 7 international destinations. The company is hoping that a better product mix, with the international routes coming in would help improve the performance.