SpiceJet Q1 results: Net profit drops 26.7% to Rs 150 cr on fewer flights

Indian budget carrier SpiceJet reported a drop in first-quarter profit on Wednesday, as it flew fewer passengers amid legal and financial troubles.

The company reported a standalone profit of Rs 150 crore ($17.9 million) for the quarter ended June 30, down 26.7 per cent from last year.

This excludes the business of its subsidiaries,…