SpiceJet dips nearly 3% on hike in aviation turbine fuel

Posted By: Religare
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Shares of low cost carrier SpiceJet fell nearly 3 per cent in early trade on Bombay Stock Exchange (BSE) after oil marketing companies on Wednesday increased the price of aviation turbine fuel (ATF) by 2.7 per cent, the second consecutive hike in the past one month.

The rise in fuel cost is likely to hurt the company's profitability which is already under stress.

Weighed down by development, shares of company declined as much as 2.65 per cent to trade at Rs 18.90 a piece on the BSE.

Meanwhile, the broader benchmark Sensex was quoting at 21,297.54, up 157.06 points or 0.74 per cent at 10:00 hours.

Dion Global Solutions Ltd.

Read more about: spicejet, atf, omcs, profitability
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