Weak rupee and dear fuel hit India's SpiceJet

Indian budget airline SpiceJet reported a 10% fall in profit to ₹505.5 million ($8.3 million) for the quarter ended June 30, 2024 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.