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Weak rupee and dear fuel hit India's SpiceJet

Aug 05, 2013, 3:09 PM EDT
Indian airport security watch the arrival of a SpiceJet flight from Delhi to Amritsar on July 12, 2012.
AFP/Getty Images/NARINDER NANU

Indian budget airline SpiceJet reported a 10% fall in profit to ₹505.5 million ($8.3 million) for the quarter ended June 30, 2013 on operational revenue up 16% at ₹1.7 billion. The airline said the weak rupee and high cost of fuel squeezed margins. Its shares rose by as muh as 2% in Mumbai trade before closing little changed.

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