SpiceJet has announced its financial results for the quarter and nine months ended December 31, 2024.
On February 27, 2025, SpiceJet share price opened at ₹48.06, up from its previous close of ₹47.975. At 9:52 AM, the share price of SpiceJet was trading at ₹45.60, down by 4.94% on the BSE.
The airline reported a net profit of ₹26 crore in Q3FY25, a recovery from a loss of ₹300 crore in the same quarter last year. Its total revenue surged by 35% to ₹1,651 crore, driven by strong passenger demand, improved yields, and enhanced operational efficiency.
The Passenger Load Factor (PLF) stood at 87%, reflecting high occupancy rates. Additionally, the company achieved a positive net worth of ₹70 crore.
For the nine-month period ending December 2024, SpiceJet reduced its losses to ₹267 crore from ₹528 crore in the previous year. EBITDA for the period stood at ₹401 crore (₹524 crore ex-Forex) compared to ₹385 crore (₹466 crore ex-Forex) in the previous year. Total revenue for the period reached ₹3,838 crore, demonstrating steady growth in operations.
During the year, the airline successfully settled multiple outstanding disputes with aircraft and engine lessors. These settlements, originally amounting to ₹1,700 crore, were resolved at ₹1,233 crore, resulting in a financial benefit of ₹467 crore. This has contributed to improving the company’s overall financial health.
SpiceJet also raised ₹3,000 crore through a Qualified Institutional Placement (QIP), which saw participation from leading global investors. The funds have significantly strengthened its financial position, enabling the resolution of legacy liabilities, fleet expansion, and accelerated operational growth.
Commenting on the performance, the Chairman and Managing Director of SpiceJet, Ajay Singh, said, “This quarter’s performance is a testament to SpiceJet’s resilience and our relentless focus on financial and operational recovery. For the first time in a decade, the company has 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.”
He further added, “The overwhelming response to our QIP and the trust of global investors, combined with operational resilience and financial discipline, has set the stage for sustained growth. We have significantly strengthened our balance sheet, resolved key disputes, and are continuously expanding our fleet. We are in discussions with OEMs for advanced deliveries of aircraft and are actively exploring both organic and inorganic growth opportunities.”
SpiceJet’s Q3FY25 performance, debt settlements, and successful QIP fundraising highlight its financial recovery and growth momentum.
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Published on: Feb 27, 2025, 9:56 AM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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