New Delhi: Ajay Singh-Promoted Spicejet will collect Rs 2,500 Crore through QIP and the cargo business nest as a separate entity.
The budget airline on Wednesday reported the loss of Q4 FY 21 Crore Rs 235, down from the loss of Rs 807 Crore in the previous same period in the previous fiscal.
In Covid’s financial year, the airline has lost Rs 998 Crore, down from the loss of R 935 Crore at FY 20.
The scrip closed 1.5% lower at Rs 81 on BSE Wednesday.
However, airline auditors in his report with the results said losses for Q4 FY21 and Fiscal Year 2020-21 would be higher by Rs 142 Crore and Rs 533.4 Crore, if not recognize certain items such as compensation from Boeing for Grounded B737 Max because it is not There is a “virtual certainty” to get the same.
Auditor Walker Chanderok & Co.
said: “The accumulation of losses of the company has resulted in complete erosion of its net wealth and smooth liabilities have surpassed its current assets of Rs 5,185.8 Crore on March 31, 2021.
(there) the existence of material uncertainty can cause doubts about the company’s ability To continue worries.
“Spicejet CMD Ajay Singh said:” The intensity with the second wave of Covid-19 hit and unimaginable destruction has been caused, both for the travel industry that has been obsolete and generally, will take the time to recover.
To ensure term growth Our long and sustainable operation, we have decided to raise funds of up to RS 2,500 Crore.
These funds will be used to significantly strengthen our balance sheet.
“Just like the first wave, this time too, our cargo arm is very active and has displayed the number of supply records Very good throughout the world.
To provide a greater focus on the cargo business and increase additional capital, we will save the cargo business to operate as a separate entity.
The same will provide greater opportunities and flexibility in pursuing long-term growth plans and strategies for the cargo business, “Singh added.