SpiceJet Q4 Results: Net Profit Surges Six-Fold to Rs 119 Crore, FY24 Loss Narrows By 73%
5 months, 1 week ago

SpiceJet Q4 Results: Net Profit Surges Six-Fold to Rs 119 Crore, FY24 Loss Narrows By 73%

News 18  

Spicejet Q4 Results: Budget airline SpiceJet Ltd on Monday reported a sixfold surge in its net profit to Rs 119 crore for the fourth quarter ended March 31, 2024. Spicejet’s net profit had stood at Rs 17 crore in the corresponding period last year, according to the company’s statement. For the fiscal year ended March 31, 2024, SpiceJet significantly reduced its losses by nearly 73%, reporting a post-tax loss of Rs 409 crore compared to a net loss of Rs 1,503 crore in FY2023. Ajay Singh, chairman and managing director of SpiceJet, said, “We are pleased to announce a strong financial performance in Q4 FY2024, with net profit surging sixfold to Rs 119 Crore compared to the same quarter last year.

Crore Spicejet Net Profit Rs 119 Crore  profit  2024  q4  rose  net  compared  results  rs  narrows  surges  soar  sixfold  loss  spicejet  crore

History of this topic

Explained: Why SpiceJet share price jumped nearly 8% today
5 days, 4 hours ago

Explained: Why SpiceJet share price jumped nearly 8% today

India Today  

SpiceJet shares jumped nearly 8% on Thursday after the airline announced a settlement with aircraft lessor Genesis, resolving a $16 million dispute. Under the agreement, SpiceJet will pay Genesis $6 million, while the lessor will acquire $4 million worth of SpiceJet equity at Rs 100 per share. In a statement, Ajay Singh, Chairman and Managing Director of SpiceJet, said, “This …

This Airline Reduced It's Staff By Nearly 2,000 In FY24; Check The Details Here
2 weeks ago

This Airline Reduced It's Staff By Nearly 2,000 In FY24; Check The Details Here

ABP News  

SpiceJet, India's sixth-largest airline, downsised its workforce in FY24, impacting thousands of employees. Meanwhile, SpiceJet reported a 9 per cent decline in staff salaries and benefits/expenses, which dropped to Rs 7,705.44 million in FY24, compared to Rs 8,438.71 million in FY23. The airline's total income fell by 14 per cent to Rs 84,969.69 million, while operating revenue decreased by 21 …

SpiceJet Raises Rs 3,000 Crore From Institutional Investors
3 months ago

SpiceJet Raises Rs 3,000 Crore From Institutional Investors

News 18  

SpiceJet has raised Rs 3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline. Foreign entities, including Societe Generale – ODI, Goldman Sachs Pte – ODI, Nomura Singapore Ltd ODI and Discovery Global Opportunity Ltd are among the investors who have been allotted shares under the airline’s Qualified Institutional Placement that was …

SpiceJet's Ajay Singh May Sell Over 10% Stake in Airline to Raise Funds
3 months, 2 weeks ago

SpiceJet's Ajay Singh May Sell Over 10% Stake in Airline to Raise Funds

News 18  

SpiceJet promoter and chairman Ajay Singh may offload more than 10 per cent stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. One of the sources said that Singh could offload up to a 15 per cent stake in the airline if certain conditions …

SpiceJet chairman Ajay Singh may sell over 10% stake in airline to raise funds
3 months, 2 weeks ago

SpiceJet chairman Ajay Singh may sell over 10% stake in airline to raise funds

The Hindu  

SpiceJet promoter and chairman Ajay Singh may offload more than 10% stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. One of the sources said that Mr. Singh could offload up to a 15% stake in the airline if certain conditions are conducive. Mr. …

Spicejet Plans to Raise Over Rs 3,200 Crore Via Debt, Equity
3 months, 2 weeks ago

Spicejet Plans to Raise Over Rs 3,200 Crore Via Debt, Equity

News 18  

Cash-strapped domestic carrier Spicejet plans to raise Rs 3,200 crore through QIP, warrants and capital infusion by the promoter, the airline said in a presentation on Friday. “Spicejet plan to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion,” the airline said in an investor presentation. Ajay Singh-promoted SpiceJet had earlier in January …

SpiceJet to announce Q1FY25 results on time after a year. What to expect
4 months, 1 week ago

SpiceJet to announce Q1FY25 results on time after a year. What to expect

Live Mint  

SpiceJet, once a soaring carrier and now a shadow of its former self, will declare its Q1FY25 results on August 14, 2024. Shrinking airline In Q1FY25, SpiceJet carried 16.71 lakh domestic passengers across 12,038 domestic flights. Compared to the same period last year, the airline operated 15 per cent fewer flights and ferried 17 per cent fewer passengers. In June, …

SpiceJet to raise up to ₹3,000 crore via QIP
5 months ago

SpiceJet to raise up to ₹3,000 crore via QIP

Live Mint  

In a relief for low-cost carrier SpiceJet, the board of the budget carrier on Tuesday approved raising up to ₹3,000 crore through a qualified institutional placement. The company informed the stock exchanges that its board has considered and approved raising funds aggregating up to ₹3000 crore through the issue of shares or any other eligible securities to qualified institutional buyers. …

Spicejet Q3 results : loss at ₹298.62Cr, Revenue decreased by 17.37% YoY
5 months ago

Spicejet Q3 results : loss at ₹298.62Cr, Revenue decreased by 17.37% YoY

Live Mint  

Spicejet Q3 Results Live : Spicejet declared their Q3 results on 15 Jul, 2024. Spicejet has delivered 9.34% return in the last 1 week, -11.39% return in the last 6 months and -3.91% YTD return. As of 17 Jul, 2024, out of 3 analysts covering the company, 1 analyst has given Sell rating & 2 analysts have given Buy rating. …

SpiceJet secures lease agreements for 10 aircraft to bolster summer capacity
9 months, 1 week ago

SpiceJet secures lease agreements for 10 aircraft to bolster summer capacity

Live Mint  

SpiceJet, in preparation for the upcoming summer schedule, has finalised lease agreements for 10 aircraft, to enhance capacity and ensure smooth connectivity for passengers during peak travel seasons, the company said in a release on March 14. Additionally, SpiceJet resolved a ₹93 crore dispute with aircraft leasing firm Cross Ocean Partners, securing the transfer of an airframe and an engine …

SpiceJet shares crash 10% after 2 senior executives resign: Will slump continue?
9 months, 1 week ago

SpiceJet shares crash 10% after 2 senior executives resign: Will slump continue?

Hindustan Times  

SpiceJet share price: Shares of SpiceJet fell 9.7 percent to ₹54.6 per share today after Chief Operating Officer Arun Kashyap and Chief Commercial Officer Shilpa Bhatia reportedly resigned. The company said that this was part of SpiceJet's strategic restructuring, adding, “As part of SpiceJet's strategic restructuring, several members of the commercial team including the Chief Commercial Officer have left the …

SpiceJet share price plunges nearly 10% on two senior executives resignations
9 months, 1 week ago

SpiceJet share price plunges nearly 10% on two senior executives resignations

Live Mint  

SpiceJet share price slumped nearly 10% in Tuesday's session after news of two senior executives resignations. It has also been some time since Chief Commercial Officer Shilpa Bhatia put in her papers," one of the sources told Mint. The announcement that the spouses of Spicejet's chief operational officer Arun Kashyap and chief commercial officer Shilpa Bhatia had founded a new …

SpiceJet share price jumps 4% after this declaration before Delhi High Court
9 months, 2 weeks ago

SpiceJet share price jumps 4% after this declaration before Delhi High Court

Live Mint  

Stock market today: SpiceJet share price today witnessed buying interest as the aviation company has declared to have settled ₹93 crore dispute with the aircraft leasing company Cross Ocean Partners. The joint declaration was made by both parties before the Delhi High Court in the ongoing execution petition being pursued by Cross Ocean Partners. SpiceJet share price today opened upside …

SpiceJet to lay off 15 per cent of workforce, save Rs 100 crore annually
10 months, 1 week ago

SpiceJet to lay off 15 per cent of workforce, save Rs 100 crore annually

India TV News  

Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report. "As part of our turnaround and cost-cutting strategy, following the recent fund infusion, SpiceJet has initiated several measures, including manpower rationalisation, aimed at achieving profitable growth and positioning …

Stocks to Watch: TCS, Infosys, Spicejet, Nuvama Wealth, Polycab, Kalyani Steels
11 months, 1 week ago

Stocks to Watch: TCS, Infosys, Spicejet, Nuvama Wealth, Polycab, Kalyani Steels

Live Mint  

Following are the top ten stocks that are likely to be in focus on Thursday: Tata Consultancy Services: TCS is expected to report a tepid growth in revenue and profit after tax for the third quarter of the current financial year on account of the prevailing weakness in discretionary spending in key markets in the West. Nuvama Wealth Management: The …

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’
1 year ago

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’

Firstpost  

The news, which pushed up SpiceJet shares by more than 7%, came after Go First’s lenders began contemplating the airline’s liquidation after they did not get any bids for it within the late November deadline Budget carrier SpiceJet said on Tuesday that it will submit an offer with the resolution professional of Go First after due diligence to “create an …

SpiceJet to soon list shares on National Stock Exchange
1 year ago

SpiceJet to soon list shares on National Stock Exchange

The Hindu  

No-frills airline SpiceJet on December 11 said it will soon be listing its securities on the National Stock Exchange. Shares of the carrier, which is navigating financial turbulence, jumped more than 8% in the morning trade on the BSE. In order to reach a wider investor base, "the company shall soon be listing its securities on National Stock Exchange of …

In charts: The many challenging lives SpiceJet has lived
1 year, 1 month ago

In charts: The many challenging lives SpiceJet has lived

Live Mint  

On 13 October, a Friday, SpiceJet’s stock price soared 20%, amid trading volumes that were 27 times the average for the previous 10 days. According to civil aviation database Planespotters, 23 of 56 planes in SpiceJet’s fleet were currently grounded—an inactivity rate of 41%. Another issue with SpiceJet’s fleet is that, on average, it is the oldest among domestic airlines, …

SpiceJet takes off in Q3 but the route ahead is turbulent
1 year, 9 months ago

SpiceJet takes off in Q3 but the route ahead is turbulent

Live Mint  

Shares of SpiceJet Ltd are up 11% so far post the announcement of December quarter results. It reported net profit of ₹107 crore versus a loss of ₹838 crore in the September quarter. But given the strong yield, it reported Ebitdar of Rs591 crore versus loss of Rs387 crore in the September quarter. “The addition of the 737-8 MAX aircrafts …

SpiceJet announces revised salary structure- Rs 7 lakh/month for its Captains; applicable from Nov 1, 2022
2 years, 2 months ago

SpiceJet announces revised salary structure- Rs 7 lakh/month for its Captains; applicable from Nov 1, 2022

India TV News  

SpiceJet, which has been facing turbulent times, announced a revised salary structure for its Captains increasing their monthly remuneration to Rs 7 lakh a month for 80 hours of flying. In September, the loss-making airline hiked salaries of its Captains and senior first officers by around 20 per cent with effect from October. The carrier, whose flights have been restricted …

SpiceJet to get ₹1,000 crore under ECLGS
2 years, 2 months ago

SpiceJet to get ₹1,000 crore under ECLGS

The Hindu  

Cash-strapped budget airline SpiceJet will receive an additional ₹1,000 crore under the revised Emergency Credit Line Guarantee Scheme enabling it to “settle the survivability debate”, according to an airline official. “The additional funding will rejuvenate SpiceJet, help it clear all statutory dues, lessor payments, induct brand new MAX planes, operate a younger fleet which will increase operational efficiency and support …

SpiceJet: Flying on a wing and a prayer
2 years, 5 months ago

SpiceJet: Flying on a wing and a prayer

The Hindu  

Published : Jul 20, 2022 17:26 IST Update, July 27:The DGCA has ordered SpiceJet to operate just 50 per cent of its sanctioned flights for eight weeks. In March 2020, the then Civil Aviation Minister Hardeep Singh Puri had shared some statistics in Parliament, according to which about 70-80 per cent incidents occurred due to engineering/technical issues, including system component …

Five graphs tell SpiceJet’s turbulence story
2 years, 5 months ago

Five graphs tell SpiceJet’s turbulence story

Live Mint  

SpiceJet has hit a snag. After three SpiceJet aircraft reported issues on the same day, the Directorate General of Civil Aviation issued a show-cause notice to the airline on 5 July. Partly due to a ransomware attack in May, the latest month for which the data was available, 53,707 SpiceJet passengers suffered on account of “boarding denied", cancellation, or delays …

SpiceJet gets show cause notice after 8 malfunction incidents in 18 days
2 years, 5 months ago

SpiceJet gets show cause notice after 8 malfunction incidents in 18 days

Live Mint  

The Directorate General of Civil Aviation on Wednesday issued a show cause notice to budget carrier SpiceJet after the airline reported eight malfunction incidents in last 18 days. On 2 July, a SpiceJet flight heading to Jabalpur returned to Delhi after the crew members observed smoke in the cabin at around 5,000 feet altitude. On 19 June, an engine on …

SpiceJet Q1 results: Airlines reports net loss of ₹600 crore, owing to COVID
4 years, 3 months ago

SpiceJet Q1 results: Airlines reports net loss of ₹600 crore, owing to COVID

Live Mint  

SpiceJet, low-cost carrier, has reported a consolidated net loss of ₹600.5 crore for the the quarter ended June 2020 as flight operations remained suspended for most part of the quarter in the wake of coronavirus outbreak. "The COVID-19 pandemic, has contributed to a significant decline and volatility, and a significant decrease in economic activity, in global and Indian markets," said …

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