Profit at reduced costs of spice clocks

SpiceJet has earned a profit of Rs 25 crore for the December quarter of the current financial year (Q3FY25). In the exchange filing on February 26, the aviation player said that Q3FY25’s single net profit was ₹ 25 crore compared to a loss of K 301.5 crore in the corresponding quarter of the previous financial year. For the September quarter (Q3FY25), the company has lost Rs 441.7 crore.

“The performance of this quarter is a will to focus our relentless focus on the elasticity of SpiceJet and the financial and operational redo -recovery. For the first time in a decade, the company has become a networth positive – an important landmark that reflects the success of our change strategy. The past is behind us, and now we have focused on creating a stronger, more elastic future for SpiceJet, “said Ajay Singh, chairman and managing director of SpiceJet.

Earlier this year, the airline successfully closed a qualified institutional placement (QIP) in which partnerships were made from marquee funds such as Tata Mutual Fund, Discovery Global and Goldum Sachs.

SpiceJet had a strong need for capitalization as it defaulted vendors, including aircraft and engine letters, on legal pending and payment, some of which have filed petitions in the court to declare the airlines insolvent.

Its rivals have been unable to miss the missing new planes in the post -cash boom. At the end of the August Gust, India’s domestic aviation market had more than 2% stake in the airlines, which was 10.5% in 2021.

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