Leading budget airline SpiceJet on February 25, 2025 reported its results for Q2 and Q3 together post market hours. It announced a net profit of Rs 25 crore for the quarter ended December 31, 2024 as compared to the net loss of Rs 300 crore declared in the corresponding quarter of last year. It declared its total revenue at Rs 1651 crore, indicating a growth of 35% amid higher passenger demand, better pricing, and operational efficiencies.
Earlier, SpiceJet share price witnessed sharp rally of 13.43% in last 1-week as Sensex declined 1.80% during the similar tenure. The stock declined 28.84% in last 1-year. Meanwhile, the company has a market cap of Rs 6,148.25 crore. It offers a return on equity (ROE) at 17.95%. Check key details below:
SpiceJet Declares Financial Results: “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.
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.
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.
Debojo Maharshi, Chief Business Officer, SpiceJet, said, “Strong demand and effective network optimization are expected to drive a double-digit growth in RASKs during the fourth quarter of FY25 compared to the previous year. This anticipated increase will not only enhance our revenue streams but also significantly improve our cash flows, contributing to the overall financial health of the company and enabling us to invest in key initiatives.”
SpiceJet Shares Performance
The 52-week high price of SpiceJet shares 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, slipped 28.10% in last 6-months, and fell over 28% in last 1-year. The stock zoomed 20.83% in last 2-years.
SpiceJet Dividend History
The company never recommended any dividends 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 story highlights Q2, Q3 Results and should not be considered as investment advice by the Moneydaily.in or the Author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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