Buy Spicejet Shares Post Q2, Q3 Results? Fresh Target Price Issued

Budget airline SpiceJet on February 25, 2025 declared its financial results for Q2 and Q3 together. It reported a net profit of Rs 25 crore for the December 2024 quarter as against the net loss of Rs 300 posted in the corresponding quarter of last year. SpiceJet share price would likely react to the latest development. Last trading price of SpiceJet shares stood at Rs 47.97 per share on Bombay Stock Exchange (BSE). Meanwhile, the company has a market capitalisation of Rs 6,148.25 crore.

The stock offers return on equity at 5.72% and returns outperformed market. In last 1-week, SpiceJet shares zoomed 13.43 and jumped 6.20% in last 2-weeks. During the same time, Sensex slipped 1.80% and fell 2.22% in last 2-weeks. Check key details below:

SpiceJet Shares Performance Over The Years

The 52-week high of SpiceJet share price on BSE is Rs 79.90 per share (as on 16/09/2024) and 52-week low price is Rs 39.91 per share (as on 18/02/2025), respectively. Spicejet shares gained over 6% in past 2-weeks, declined 28.10% in last 6-months, and dived more than 28% in last 1-year. Shares of the airline stock delivered returns of 20.83% in last 2-years. In last 5-years, shares of the company fell 45.24% while Sensex posted 85.20% returns during the similar tenure.

SpiceJet Shares Drop 39.96% From 52-Week High

The stock witnessed decline of 3996% from its 52-week high price of Rs 79.90 per share if last trading price of Rs 47.97 is taken into consideration.

Should You Buy SpiceJet Shares?

According to A R Ramachandran, SEBI registered Independent research analyst, “SpiceJet stock price is bullish on the Daily charts with strong support at 46.5. A Daily close above resistance of 48.5 could lead to 52 in the near term.”

SpiceJet Financial Results

The cash-strapped airline announced its revenue for Q2FY25 AT Rs 817.12 crore as against Rs 1425.29 crore reported in Q2FY24. The revenue for Q3FY24 announced at Rs 1140.66 crore as against Rs 1756.6 crore announced in Q3FY24.

The decline in revenue occurred even after a robust surge in domestic travel during the 2 quarters amid rising demand for domestic travel in India for the last 8 quarters.

“Total revenue surged by 35 per cent to Rs 1,651 crore, driven by strong passenger demand, improved yields and enhanced operational efficiency. Passenger Load Factor (PLF) stood at an impressive 87 per cent,” stated the airline via its BSE filing.

The company declared its ATF expense for the December 2024 quarter at Rs 167 crore as against Rs 234 declared in the similar quarter of last year. The airline accomplished a Passenger Load Factor (PLF) of 87%.

“For the first time in a decade, the company turned net worth positive – an important milestone that underscores the success of our turnaround strategy. The past is behind us and we are now firmly focused on building a stronger, more resilient future for SpiceJet,” chairman and managing director Ajay Singh said in a statement.

According to the exchange filing, “during this year, the company has successfully settled multiple outstanding disputes with aircraft & engine lessors, amounting to INR 1700 Crore at INR 1233 Crore, resulting in a financial benefit of INR 467 crore.”

The airline’s successful INR 3,000 Crore Qualified Institutional Placement (QIP), which saw participation from leading global investors has significantly strengthened its financial position. This has enabled the resolution of major legacy liabilities, fleet expansion, and accelerated operational growth, added the exchange filing.

SpiceJet Dividend History

The company never recommended any dividend and bonus shares.

Shareholding

Promoters holding remains steady at 29.13% for December 2024 quarter. FII/FPI decreased holdings from 22.87% to 15.76% for December 2024 quarter. Number of FII/FPI investors remains unchanged at 122 for December 2024 quarter, according to Trendlyne.

Disclaimer: The stock has been picked from the brokerage report of A R Ramachandran. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.